Mubasher: Kuwait National Cinema reported a decrease of 18.6% in profits during the third quarter of 2018 compared to the same period a year ago.
Earnings shrank to KWD 2.37 million ($7.82 million) in Q3-18 from KWD 2.91 million ($9.6 million) in Q3-17, according to a bourse statement on Wednesday.
During the nine-month period in 2018, National Cinema registered a decline of 21.3% in profits to KWD 7.04 million from KWD 8.94 million in the same period a year ago.
The decline in 9M profits is attributed to a lower business revenue of 7%, a fall of 66% in financial investments, and an increase of 27% in finance interests.
At the stock level, Kuwait National Cinema closed Wednesday’s session 4.43% lower at 950 fils.
