Mubasher: Combined Group Contracting (CGC) reported a 56.7% decrease in profits during the third quarter (Q3) of the year, according to a statement to Boursa Kuwait on Thursday.

Profits amounted to KWD 245,500 ($838,640) by the end of Q3-19, compared with KWD 586,000 ($1.94 million), as shown by the company’s financial results.

In the nine-month period to 30 September 2019, profits rose by 4% to KWD 3.37 million, up from KWD 3.24 million in the same period a year ago, due to improved operating income and higher revenues.