Mubasher: Yiaco Medical Company reported a 37% year-on-year drop in profits during the first quarter of 2019.
The firm’s profits hit KWD 104,000 ($343,400) in Q1-19, down from KWD 165,000 ($544,700) during Q1-18, according to a statement to Boursa Kuwait on Monday.
The medical services firm attributed the large decrease in Q1-19 profits to a decline in sales.
Yiaco’s operating revenues slumped 43% to KWD 10.36 million during Q1-19 from KWD 18.12 million in Q1-18.
Earlier on Monday, Boursa Kuwait suspended trading activities on the stocks of Yiaco Medical Company, Ithmaar Holding, and Al Massaleh Real Estate.
In 2018, the company’s losses fell 84.7% to KWD 1.366 million from 8.945 million a year earlier.
