Kuwait – Mubasher: KAMCO Investment has reported KWD 178,000 ($588,100) in losses during the third quarter (Q3) of the year, versus profits of KWD 636,000 ($2.1 million) for the same period in 2018, as shown by the company’s financial statements.

Meanwhile, profits during the nine-month period ended 30 September 2019 showed declined by 12.1% year-on-year (YoY) to KWD 932,040, compared with KWD 1.06 million for the corresponding period last year, the company said in a statement to Boursa Kuwait on Sunday.

The decreasing profits were attributed to an increase in general, managerial, and financing costs after the recent merger with Global Investment House.