Mubasher: Mubarrad Holding Company reported a 55.3% decline in profits during the third quarter (Q3) of the year, as shown by the company’s financial statements.

Profits reached KWD 263,540 ($869,420) in Q3-19, compared with KWD 589,510 ($1.95 million) for the same period last year, according to a statement to Boursa Kuwait on Tuesday.

In the first nine months of the year, profits reached KWD 658,270, decreasing by 28.8% year-on-year (YoY), compared with KWD 924,860 in the corresponding period in 2018.