GIH losses shrink 85.8% in Q3

GIH losses shrink 85.8% in Q3
GIH suffered higher losses by 75.4% to KWD 1.08 million in 9M-17
GIH GIH -2.00% 22.00 0.00

Mubasher: Gulf Investment House (GIH) reported a decline of 85.8% in losses to KWD 48,000 ($159,000) in the third quarter of 2017 compared to around KWD 337,320 ($1.12 million) in the same period in 2016.

In the first nine months of 2017, GIH suffered higher losses by 75.4% to KWD 1.08 million compared to around KWD 615,640 in the same period last year, according to a bourse statement issued on Tuesday.

The increase in the nine-month losses is attributed to lower gain from financial statements of an associate as well as a rise in the murabaha expenses.

In the first half of 2017, GIH suffered a loss of KWD 1.03 million which is 271% higher than around KWD 278,320 in H1-16.

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Source: Mubasher

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