Kuwait – Mubasher: Salbookh Trading posted a drop of 82.4% in profits during the third quarter this year as compared to the same period of 2015.
Net profits reached around KWD 27,370 ($90,060) in Q3-16, compared with around KWD 155,350 ($511,190) in Q3-15, the company clarified in a bourse filing issued on Monday.
In nine months, profits stood at about KWD 73,260 which is 87.9% lower from about KWD 606,210 in the corresponding period in the past year.
The decline in profits resulted from lower sales due to the current condition of the market as well as the increasing costs of the services of maritime cargo, the company said.
On the stock level, Salbookh ended Monday’s session higher by 1.82% to 56 fils after about 100 shares were traded at a value of KWD 5.6.
