Mubasher: Manazel Holding has suffered a loss of about KWD 230,100 ($768,000) in the fourth quarter of 2017 against profits worth KWD 1.71 million ($5.7 million) in the same quarter a year ago.

During fiscal year 2017, the Boursa Kuwait-listed company incurred losses worth nearly KWD 454,920 versus profits of approximately KWD 767,920 in the prior fiscal year, according to a bourse statement on Wednesday.

The losses registered in FY17 were due to realising a profit worth KWD 500,000 from a subsidiary compared to KWD 1.68 million profits from selling an investment property in FY16.

At the stock level, Manazel closed Wednesday’s session at 27 fils.