Mubasher TV
Contact Us Advertising   العربية

Kuwait Investment’s profit down 6.95% in 9M

Kuwait Investment’s profit down 6.95% in 9M
EPS plunged to 0.56 fils in Q3-19
KINV
KINV
0.51% 196.00 1.00

Mubasher: Kuwait Investment has turned to losses worth KWD 306,664 during the third quarter of 2019 when compared to KWD 5.005 million in the corresponding quarter in 2018.

Earnings per share (EPS) plunged to 0.56 fils in Q3-19 from 9.134 fils in the same period a year earlier, according to a bourse statement on Wednesday.  

During the first nine-month period of 2019, the company's net profits retreated to KWD 10.736 million from KWD 11.538 million, with a 6.95% year-on-year drop.

The firm attributed the decrease in profit mainly to lower net income from investment due to a decline in equity markets.

It is worth noting that over the first half of 2019, the company’s operating profit went up by 37% year-on-year to KWD 21 million.