Combined Group Contracting (CGC) reported its headline figures for 2Q16. Revenue came in at KWD56.3mn (-14.8% Y-o-Y, -18.6% Q-o-Q, -15.9% vs. EFGe). Operating income was KWD0.607mn (-69.9% Y-o-Y), while net income was KWD0.84mn (-45% Y-o-Y, vs. KWD0.6mn in net loss in 1Q16, EFGe: KWD0.4mn, also in net losses). This brings 1H16 revenue to KWD125.6mn (-1.6% Y-o-Y), operating income to KWD0.411mn (-85.6% Y-o-Y) and net income KWD0.22mn (-89.6% Y-o-Y). We await the release of the full statements to be able to assess the results. (Company disclosure, Mai Attia, Sara Boutros)   CGC: KWD0.68 as of 15 August, Rating: Neutral, FV: KWD0.74/share, MCap: USD278mn, CGC KK/CGCK.KW