Mubasher: Kuwait Syrian Holding incurred an increase of 575% in losses during the fourth quarter of 2018 compared to the same period a year ago.
Losses enlarged to nearly KWD 465,630 ($1.53 million) in Q4-18 compared to about KWD 68,990 ($227,320) in the same period a year ago, according to a bourse statement on Tuesday.
During fiscal year 2018, Kuwait Syrian turned to a loss of KWD 573,560 against a net profit of nearly KWD 580,360 in FY17.
Lower revenue from investments impacted FY18 financials and cause losses.
At the stock level, Kuwait Syrian closed Tuesday’s session 3% lower at 48.5 fils.
