Mubasher: Senergy Holding Co reported a decline of 86.8% in losses during the third quarter of 2017 compared to the same period a year ago.

Losses shrank to about KWD 427,030 ($1.41 million) in Q3-17 from KWD 3.24 million ($10.73 million) in Q3-16, according to a bourse statement issued on Sunday.

During the first nine months of 2017, the company’s losses decreased by 75.3% to around KWD 907,270 compared to KWD 3.76 million in the same period in 2016.

The decline in losses is attributed to no losses from discontinued operations when compared to the previous period by KWD 2.92 million, Senergy added.

It is noteworthy that Senergy incurred losses of nearly KWD 480,240 compared to around KWD 425,950 in the same period last year; a year-on-year increase of 12.8%.