Mubasher: The financial statements of Inovest, which is listed on both Boursa Kuwait and Bahrain Bourse, showed a drop in profits by 66.8% during the third quarter (Q3) of the year.

The company’s profits registered $790,000 during Q3-19, compared with $2.38 million in Q3-18.

It is worth noting that Inovest attributed the decline in profits to higher operational costs, increasing by 22% to $3.07 million, up from $2.52 million for the same period a year earlier.

As for the first nine months of the year, profits fell by 57.3% to $5.57 million, compared with $13.06 in the same period in 2018.