Kuwait – Mubasher: Kuwait Hotels trimmed its losses for the third quarter of fiscal 2016 by 69% to KWD 41,418 ($136,300), compared to KWD 133,253 ($438,500) for Q3-15.

However, the company turned profitable in the first nine months of 2016 with a net profit of KWD 496,673, against a net loss of 90,920 for the same period of 2015, according to a bourse filing released on Monday.

Kuwait Hotels earlier reported a net profit of KWD 536,490 for the first half of 2016, 1,158.8% up from KWD 42,620 for H1-15.