Mubasher: Noor Financial Investment posted a decline of 32.4% in profits during the third quarter of 2018 compared to the same period a year ago.

Earnings shrank to KWD 1.92 million ($6.34 million) in Q3-18 from KWD 2.84 million ($9.37 million) in Q3-17, according to a bourse statement on Wednesday.

During the nine-month period in 2018, Noor Financial achieved an increase of 86.9% in profits to KWD 8.56 million compared to KWD 4.58 million in the same period last year.

The increase in 9M profits is attributed to realised profits valued at KWD 3.6 million from selling part of an investment in an associate.

At the stock level, Noor closed Wednesday’s session 5.4% higher at 56.6 fils after 4.29 million shares were traded.