Mubasher: Sultan Center Food reported a decline of 74.3% in losses during the fourth quarter of 2017 compared to the same period in the previous year.

Losses decreased to KWD 6.6 million ($22.04 million) in Q4-17 from KWD 25.73 million ($85.91 million) in Q4-16, according to a bourse filing on Thursday.

During fiscal year 2017, Sultan Center registered a drop of 81.8% in losses to KWD 4.41 million from KWD 24.28 million in FY16.

The plunge in FY17 losses is attributed to a decrease in the general, administrative, and sales expenses.