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First Takaful Insurance’s profit plummets in Q3-19

First Takaful Insurance’s profit plummets in Q3-19
Profit grew to KWD 826,240 in 9M/19
FTI
FTI
0.00% 154.00 0.00

MubasherFirst Takaful Insurance (FTI) has reported an 80.2% year-on-year profit decline during the third quarter of the fiscal year 2019.

The company’s profit dropped to KWD 10,420 ($34,380) in Q3-19, compared to KWD 52,740 ($173,990) in the year-ago period, according to a bourse statement released on Wednesday.

In the first nine months of 2019, First Takaful’s profit grew to KWD 826,240, against KWD 809,040 in the year before.

It is worth mentioning that the Boursa Kuwait-listed company’s profit increased by 7.9% YoY to KWD 815,820 in the first half of 2019.