Mubasher: Acico Industries suffered an increase of 545.3% in losses to KWD 2.11 million ($6.95 million) during the third quarter of 2018 compared to KWD 327,000 ($1.08 million in the same period a year ago.
During the first nine months of 2018, Acico posted a decline of 80.1% in profits to around KWD 851,960 from KWD 4.29 million in the same period last year, according to a bourse statement on Sunday.
The plummet in 9M profits is attributed to restructuring investment real estate in Dubai, the restructuring process resulted in losses valued at KWD 36.45 million.
