Kuwait-Mubasher: Mena Real Estate suffered losses in the fourth quarter ended 31 March, higher 47% from the same period in 2015.

The company’s losses increased to KWD 1.29 million ($4.28 million) in Q4 ended 31 March, 2016 as compared to about KWD 883,120 ($2.93 million) in the same quarter in 2015.

During the fiscal year ended 31 March, 2016, Mena posted losses worth KWD 1.04 million as compared to KWD 1.18 million; a decrease of 11%.

The board of directors recommended to retain earnings for FY ended 31 March, 2016.

Meanwhile, Mena stock ended Wednesday’s session at 23.50 fils after falling 2.08%.