Mubasher: Al Mal Investment reported an increase of 112.7% in losses during the third quarter of 2017 compared to the same period a year ago.

Losses grew to about KWD 738,000 ($2.45 million) in Q3-17 from KWD 347,000 ($1.15 million) in Q3-16, according to a bourse statement issued on Monday.

During the first nine months of 2017, the company’s losses shrank by 90.4% to KWD 1.36 million from KWD 14.12 million in the same period last year.

The decline in losses is attributed to unrealised profits by nearly KWD 78,620 at the fair value (FV), as well as achieving a gain of around KWD 53,630 from realised profits at the FV. Al Mal noted.

It is worth noting that during the first half of 2017, Al Mal suffered a loss of approximately KWD 626,100 compared to nearly KWD 13.77 million in the same half of 2016.

At the stock level, Al Mal closed Monday’s session 1.53% lower at 32.2 fils.