Mubasher: Kuwait Hotels posted a drop of 72.5% in profits to about KWD 15,370 ($50,730) in the second quarter of 2017 compared to around KWD 55,820 ($184,240) in the same period a year ago.

During the first half of 2017, the company’s profits plunged by 71.5% to approximately KWD 152,870 from about KWD 536,490 in the same half a year ago, according to a bourse filing issued on Wednesday.

It is noteworthy that Kuwait Hotels reported a drop of 71.4% in profits to nearly KWD 137,500 in the first quarter this year from about KWD 480,670 in Q1-16.