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Energy House FY17 losses shrink 74.8%

Energy House FY17 losses shrink 74.8%
Losses shrank to KWD 1.17 million ($3.89 million) in Q4-17
ENERGYH
ENERGYH
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Mubasher: The Energy House Holding has registered a decrease of 92.7% in losses during the fourth quarter fiscal year 2017 compared to the same quarter in the previous year.

Losses shrank to KWD 1.17 million ($3.89 million) in Q4-17 from KWD 16 million ($53.29 million) in Q4-16, according to a bourse statement on Sunday.

During FY17, losses declined by 74.8% to KWD 5.04 million compared to KWD 19.99 million.

Energy House’s board members recommended zero dividends for FY17.

During the first nine months of 2017, the company incurred a loss of KWD 3.87 million, 3% lower than KWD 3.99 million in the prior fiscal year.