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Gulf Franchising incurs higher losses in Q3

Gulf Franchising incurs higher losses in Q3
Gulf Franchising Holding suffered a loss of nearly KWD 120,990 ($400,630) in Q3-17
GFC
GFC
-4.47% 76.90 -3.60

Mubasher: Gulf Franchising Holding suffered a loss of nearly KWD 120,990 ($400,630) in the third quarter of 2017 compared to around KWD 105,700 ($350,000) in the same period last year, registering a year-on-year increase of 14.5%.

During the first nine months of 2017, the company achieved a profit of approximately KWD 280,630 against a loss of nearly KWD 144,530 in the same period last year, according to a bourse statement issued on Thursday.

In the first half of 2017, Gulf Franchising reported a profit of nearly KWD 401,620 versus losses of about KWD 38,830 in the same half in 2016.

Boursa Kuwait announced that Gulf Franchising’s stock has resumed trading on Thursday, after it was suspended for exceeding the deadline set for financials’ disclosure.