Kuwait - Mubasher: Ajwan Gulf Real Estate reported a decline in losses by 7% year-on-year for the second quarter of the year.

The company said in a statement to Boursa Kuwait on Tuesday that losses amounted to KWD 23,090 ($76,260) in Q2-17 compared to KWD 24,700 ($82,000) for the same period last year.

Losses increased by 6% for the first six months of the year to KWD 46,500 up from KWD 43,900 in H1-16.

The rise in semi-annual losses is attributed to the decline in operational revenues and the increase in expenses, the company explained in its bourse filing.