Mubasher: Al Massaleh Real Estate (Massaleh) on Wednesday posted a 133.6% year-on-year hike in losses for the second quarter of 2018.

Net losses amounted to KWD 1.28 million ($4.23 million) in Q2-18, compared to KWD 548,040 ($1.81 million) in Q2-17, according to the firm’s statement to Boursa Kuwait.

For the first half of 2018, the company’s losses surged 83.7% to KWD 1.41 million, from KWD 767,490 in H1-17.

In Q1-18, the company narrowed its losses by 42.6% to KWD 126,030, versus KWD 219,450 in the same period of the prior year.

By 09:31 am Kuwait time, Massaleh’s stock declined 2.50% at KWD 39.