Wednesday, May 15, 2013
BEIRUT (Zawya Dow Jones)--Kuwait's National Industries Group (Holding) (NIND.KW), or NI Group, said its net profit plunged 50% on year to 4.73 million dinars ($16.55 million) in the first quarter.
The diversified holding group didn't give a reason for the sharp profit decline in a statement posted on the Kuwait bourse website on Wednesday.
Total assets fell 11% on year to KWD1.37 billion at the end of March, according to the statement.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
15-05-13 1342GMT
