Kuwait - Mubasher: Kuwait Syrian Holding on Sunday reported a profit decline of 89.9% year-on-year in the third quarter of 2016.
Profits reached about KWD 22,300 ($73,400) in Q3-16, compared with nearly KWD 221,450 ($728,700) in the same period of the previous year, the company’s bourse statement showed on Sunday.
Results also showed a profit of about KWD 112,850 for the nine-month period ended 30 September, 2016, down 83.3% from approximately KWD 675,750 in the corresponding period of 2015.
Profits decline goes back to “Decrease in cash dividend received during current period compared to cash dividend received during the comparative period that resulting decrease in investment income”, the statement said.
