Profits of Kuwaiti listed firms slide 73 percent

The 187 firms that declared results so far posted a total net income of 800.3 million dinars (US$2.8 billion) compared to 2.93 billion dinars (US$10.3 billion) in the same period last year, Al-Shall Economic Consultants said.

The 15 companies that did not declare results include five that have a different fiscal year and 10 that have been suspended from trading.

Al-Shall said that 112 companies posted profits while 75 others sustained a loss. But profits of only 47 companies increased while the results of 140 firms retreated, the report said.

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