Kuwait and Middle East Financial Investment (KMEFIC)reported KWD 288,290 in losses for the first quarter of 2015, against KWD 245,120 in profits for the same period of 2014.

The company's losses in Q1 were mainly attributed to provisions booked for loans and financial obligations amount to KWD 570,000.

The company's operating revenues declined to KWD 1.44 million in Q1-FY14, compared with KWD 1.47 million for the same period of the previous year.

KMEFIC is capitalised at KWD 26.38 million, distributed across 263.81 million shares at 100 fils par value each.