Mubasher: Future Kid Entertainment and Real Estate Company reported a 49.7% decrease in profits during the third quarter (Q3) of the year.

Profits amounted to about KWD 307,810 ($1.02 million) in Q3-19, compared with KWD 612,230 ($2.02 million) for the same period last year.

The company achieved profits of KWD 765,020 during the first nine months of the year, compared with KWD 1.36 million in the same period in 2018, declining by 43.8%.

Increased depreciation and financing costs were among the reasons the company said in a statement to Boursa Kuwait on Wednesday were among the decrease in profits.