Kuwait - Mubasher: Boubyan International Industries Holding Company (BIIHC) incurred widening in its losses in the second quarter which ended on 31 January 2017 by 323.73% compared to the corresponding period in the previous year.

Net losses reached KWD 213,100 ($695,630) compared to losses of KWD 50,300 ($164,200) in the same period in 2016, the company added in its statement to Boursa Kuwait on Wednesday.

The increase in losses was due to a drop in net revenues from investment.

During the first quarter which ended on 31 October 2016, BIIHC lost KWD 102,190 against profits of KWD 25,007 in the same period of 2015.

The company’s share retreated 4.08% reaching 23.5 fils by the end of Wednesday’s trading session.