Mubasher: Mena Real Estate registered an increase of 249.2% in losses during the fiscal year that ended on 31 March when compared to the same period a year ago, according to a bourse statement on Sunday.

Losses deepened to about KWD 731,780 ($2.42 million) in the fiscal year ended last March from nearly KWD 209,580 ($693,510) in the corresponding period a year ago.

The higher losses are attributed to Mena’s operating income despite the lower number of its employees.