Mubasher: Al Massaleh Real Estate on Monday reported a 52.1% year-on-year rise in losses during the fourth quarter of 2018.
The firm’s losses amounted to KWD 2.14 million ($7.05 million) during Q4-18, up from KWD 1.41 million ($4.64 million) in Q4-17, according to a statement to Boursa Kuwait.
Al Massaleh Real Estate’s losses levelled up 36% from January to December 2018, logging KWD 3.58 million, compared to KWD 2.63 million a year earlier.
The company attributed the rise in losses to suffering losses from selling investment properties in Q4-18.
The Boursa-Kuwait listed company’s operating revenues plunged 85% to KWD 5.77 million last year, from KWD 38.78 million in 2017.
