Kuwait – Mubasher: Hayat Communications reported a 19.7% profit decrease during the third quarter of 2016, according to a bourse filing on Monday.

Q3 net profits reached KWD 118,350 ($389,440), compared with KWD 147,420 ($485,090) for the year-ago period.

Meanwhile, net profits for the first nine months grew by 11.5% year-on-year to KWD 48,840 from KWD 43,810.

In the first half, the company logged KWD 69,500 losses, lower 33% from KWD 103,600 losses for the year-ago period.