Mubasher: Ithmaar Holding has suffered an increase of 1,816% in losses during the fourth quarter of 2017 compared to the same period in the prior year.

Ithmaar, which is listed on Boursa Kuwait, Bahrain Bourse (BHB), and the Dubai Financial Market (DFM), registered a loss of $56.15 million in Q4-17 compared to $2.93 million in Q4-16, according to a recent statement.

During fiscal year 2017, Ithmaar incurred a loss of $72.4 million against profits worth $13.8 million in the previous fiscal year.