Kuwait-Mubasher: Mushrif Trading and Contracting reported a 54.22% plunge in profits for the first quarter of 2015, reaching KWD 327,540 ($1.08 million) from KWD 715,560 ($2.36 million) in the same quarter of 2014.

Earnings per share declined to 1.07 fils in Q1-15 from 3.46 fils in Q1-14, according to a filing to the Kuwait Stock Exchange (KSE).

The Kuwait-listed company posted losses of KWD 2.99 million ($9.96 million) in 2014, against profits of KWD 1.50 million ($4.99 million) in 2013.