Mubasher: The losses of Warba Capital Holding Company narrowed by 28.7% on an annual basis in the first half (H1) of the fiscal year (FY) 2019/2020, backed by an increase in revenues and gross profit.

The losses amounted to around KWD 482,340 ($1.57 million) in H1-FY19/20, compared to about KWD 676,180 ($2.2 million) in the same period a year earlier, according to a stock exchange filing on Monday.

In the second quarter (Q2), losses recorded nearly KWD 417,460, down by 23.3% from about KWD 544,020 in the corresponding period in the previous year.

It is worth noting that in Q1-19/20, the holding firm trimmed its losses by 50.9% on annual basis to of KWD 64,880 ($214,150).