Mubasher: The financial statements of Automated Systems have indicated to a negative turn in the results of the second quarter of 2019, compared to profits registered in the corresponding period last year.
The losses of the period amounted to nearly KWD 13,200 ($43,500), versus around KWD 226,930 ($747,500) worth of profits in Q2-18, Boursa Kuwait disclosed on Thursday.
In the first half of 2019, the company’s profits reached approximately KWD 22,950, compared to nearly KWD 689,910 in the same period last year, with a 96.7% retreat.
The discontinuation of computerised passenger reservation systems operations has resulted in the profit decrease, as the contract expired on 31 December 2018, the company disclosed.
Noteworthy, in the first quarter of 2019, the company’s profits shrank by 92.9% to nearly KWD 36,150, compared to approximately KWD 462,980 in the corresponding period last year.
