Mubasher: Danah Al Safat Foodstuff on Thursday reported a 101.3% year-on-year hike in losses for the fourth quarter of 2017 to KWD 4.77 million ($15.96 million), compared to KWD 2.37 million ($7.93 million) in Q4-16.

Net loss stood at around KWD 5.94 million last year, up from KWD 140,020 in 2016, Danah Al Safat added in a filing to Boursa Kuwait.

The company attributed the increase in losses to lower sales and holding some allocations.

Boursa Kuwait also announced it would suspend trades on Danah Al Safat’s stock as of Sunday, 1 April to Wednesday, 4 April 2018 based on the company’s general meeting's decision to reduce capital.