Abu Dhabi – Mubasher: Al Khaleej Investment Co. (KICO) reported a sharp decline of 43% in its net profits for the first six months of 2014 to AED 7.4 million ($2 million), compared to AED 13.5 million ($3.7 million) in the same period the year before.

Meanwhile, Q2 profits showed similar drop of 45.4% year-on-year to AED 4.3 million, down from AED 8 million in Q2-14, according to a filing to the Abu Dhabi Securities Exchange (ADX).

KICO’s Q1-15 profits were also down 40% to AED 3 million, compared to AED 5 million in the same period of 2014.

The company mainly operates in the import, export and transfer of cattle, meat and food products as well as building cooling warehouses and necessary factories. KICO’s capital amounts to AED 100 million, divided on 100 million shares at par value of AED 1 per share.