Kuwait – Mubasher: Bahrain-Kuwait Insurance Co (BKIC) on Sunday said it achieved KWD 406,330 ($1.33 million) in profits in the first quarter of 2017, down 47.6% from KWD 774,790 ($2.53 million) in the year-ago period.

Earnings per share (EPS) amounted to 6 fils per share in Q1-17, against 11 fils in Q1-16, according to filings to the Bahraini and Kuwaiti bourses.

Operating revenues amounted to KWD 3.3 million, down 3% from KWD 3.4 million in Q1-16.

BKIC had previously reported KWD 2.86 million in profits in 2016, up 5.5% from KWD 2.71 million in 2015.