Mubasher: Metal and Recycling reported an increase of 42% in losses during the second quarter of 2018 compared to the same period a year ago.
Losses deepened to about KWD 294,170 ($971,240) in Q2-18 from approximately KWD 207,110 ($683,800) in Q2-17, according to a bourse statement on Tuesday.
During the first half of 2018, losses enlarged by 588.9% to nearly KWD 481,150 from around KWD 69,840 in the same six months of 2017.
Metal and Recycling clarified that the increase in H1 losses is attributed to higher administrative and general expenses in addition to a decline in gross profit.
