Profits of Kuwaiti listed firms slide 73pc

Total net profits of firms listed on the Kuwait Stock Exchange slumped by about 73 percent in the first nine months of the year due to the global financial crisis, an economic report said on Sunday.
The 187 firms that declared results so far posted a total net income of 800.3 million dinars (2.8 billion dollars) compared to 2.93 billion dinars (10.3 billion dollars) in the same period last year, Al-Shall Economic Consultants said.
The 15 companies that did not declare results include five that have a different fiscal year and 10 that have been suspended from trading.
Al-Shall said that 112 companies posted profits while 75 others sustained a loss. But profits of only 47 companies increased while the results of 140 firms retreated, the report said.
The troubled investment sector topped the list of losers. The 47 listed investment firms posted a net loss of 944 million dollars. Profits of real estate firms dropped by 90 percent.