Mubasher: Shuaiba Industrial reported a decline of 48.8% in profits during the third quarter of 2018 compared to the same period a year ago.
Earnings shrank to around KWD 189,370 ($624,800) in Q3-18 compared to KWD 370,000 ($1.22 million) in Q3-17, according to a disclosure on Wednesday.
During the first nine months of 2018, Shuaiba Industrial posted a decrease of 41.9% to nearly KWD 859,660 compared to KWD 1.48 million in the corresponding period a year ago.
The decline in 9M profits is attributed to a drop in gross operating income.
