Kuwait – Mubasher: Al Madina for Finance and Investment posted a fall of 127% in profits during the third quarter of 2016 as compared to the same period a year ago.

Net earnings shrank to nearly KWD 633,431 ($2 million) in Q3-16 from KWD 2.354 million ($7.7 million) in Q3-15, the company said in a bourse filing issued on Wednesday.

Al Madina, which is listed on both KSE and DFM, achieved a year-on-year growth of 2% in profits to KWD 1.03 million during the first nine months of 2016.

On the stock level, AL Madina gained 2.41% to reach 42.5 fils by 11:05am Kuwait time, after about 121,900 shares were traded through 4 transactions at a value of nearly KWD 5,070.