Mubasher: Kuwait National Cinema registered a decrease of 25.4% in profits during the second quarter of 2018 compared to the same period in the prior year.
Earnings shrank to KWD 2.09 million ($6.91 million) in Q2-18 from KWD 2.8 million ($9.26 million) in Q2-17, according to a bourse statement on Wednesday.
During the first half of 2018, Kuwait Cinema posted a drop of 22.6% in profits to KWD 4.67 million from KWD 6.03 million in the same half of 2017.
Kuwait Cinema clarified that the retreat in H1 profits is attributed to lower net income in financial investments by 54%, in addition to a decrease of 8% in revenues and a growth of 26% in financing interest.
It is noteworthy that Kuwait Cinema registered a decline of 20.1% in profits to KWD 2.58 million during the first quarter of 2018 compared to KWD 3.23 million in the same quarter a year ago.
