Mubasher: Kuwait Financial Centre (Markaz) reported a turn to losses at a total of KWD 1.37 million ($4.52 million) during the third quarter of 2019, versus profits worth KWD 1.52 million ($5.02 million) during the corresponding quarter in 2018.
During the period from January to September 2019, Markaz achieved a profit worth KWD 3.448 million, 16.7% lower than KWD 4.14 million a year earlier, according to a bourse statement on Monday.
The firm attributed the drop in profit mainly to lower fair value (FV) of the financial assets by the FV through profit or loss.
It is worth remarking that over the first half of 2019, Markaz’s profit reached KWD 4.818 million, 84% higher than KWD 2.619 million in H1-18.
