Mubasher: Aayan Leasing and Investment has suffered a loss of KWD 7.75 million ($25.88 million) during the fourth quarter of 2017 against profits worth KWD 2.16 million ($7.21 million) in the same period a year ago.

During the fiscal year 2017, the Boursa Kuwait-listed company incurred losses of around KWD 850,110 versus a profit of KWD 3.79 million in FY16, according to a bourse statement on Monday.

The negative turn in FY17 financials is attributed to a decrease in real estate and construction revenues when compared to FY16 in addition to differentials in currency exchange.

Meanwhile, the Kuwait-based firm disclosed that a profit worth KWD 6.8 million was realised from selling a subsidiary.