Kuwait – Mubasher: Yiaco Medical posted a negative turn in the second quarter’s financials against profits achieved in the same quarter of 2015.

Losses reached KWD 2.14 million ($7.06 million) in Q2-16 versus profits worth around KWD 28,360 ($93,600) in Q2-15, according to a recent statement.

During the first half of 2016, losses stood at KWD 1.87 million against profits worth about KWD 639,490 in the same half of 2015.

Low profit margin of sales affected the financials negatively as well as provisions allocated for facing current and possible future losses, in addition to higher expenses due to restructuring, the statement added.