Kuwait – Mubasher: Al Salam Group Holding's profits dropped 96.6% in the first quarter of 2017.

Profits reached KWD 12,500 ($40,970) in Q1-17, compared to KWD 366,500 ($1.2 million) in the corresponding period of 2016.

The company noted that the decline in net profits was attributable to lower stake in the results of sister companies.

Net operational profit retreated 61.3% to KWD 214,700 in Q1-17 compared to KWD 554,200 in Q1-16.