Mubasher: Shuaiba Industrial reported a drop of 36.3% in profits during the first quarter of 2018 compared to the same period in the previous year.
Earnings decreased to nearly KWD 402,950 ($1.34 million) in Q1-18 compared to around KWD 632,050 ($2.11 million) in Q1-17, according to a bourse statement on Monday.
The decline in Q1-18 profits is attributed to higher sales costs.
It is noteworthy that Shuaiba Industrial posted a rise of 1.6% in profits to KWD 1.9 million during fiscal year 2017 compared to KWD 1.87 million in the previous fiscal year.
