Mubasher: Equipment Holding suffered 72.6% higher losses during the fourth quarter of 2016, as compared to the same period in the previous year.

Losses jumped to KWD 844,000 ($2.76 million) in Q4-16 from KWD 489,000 ($1.6 million) in Q4-15, according to a bourse filing issued on Thursday.

During the fiscal year, losses deepened by 168.1% to total KWD 3.78 million from KWD 1.41 million in FY15.

The increase in losses resulted from higher operating and financing costs, the statement said.