Mubasher: First Takaful Insurance (FTI) posted a 27.12% year-on-year drop in its profits for the first quarter of 2019.
Net profits stood at KWD 317,240 ($1.05 million) in Q1-19, compared to KWD 435,330 ($1.43 million) in Q1-18, according to the company’s statement to Boursa Kuwait on Thursday.
The decline in Q1-19 profit was attributed to the drop in the company’s profit stake from associates, the Kuwait-based insurer said.
Total operating profits of FTI plunged 28.79% year-on-year to KWD 360,420 by the end of March.
