The increase in the company's annual profits was attributed to higher operating income and expenses.
Net profits of Kuwait National Cinema increased by 3% annually to $28.1m by 2019 year-end from $27.4m. The profits totalled $4.3m in Q4, up by 8% from $4.2m in the same quarter in 2018, according to Mubasher.
Moreover, Kuwait National Cinema ascribed the rise in 2019 profits to a decline in net profit of financial investment by 65% and a growth in administrative and general expenses by 14%.
As for the nine-month period ended September 30, 2019, profits grew by 1.8% to $23m, compared to about $22m in the same period in 2018.
