Mubasher: Al Mudon International Real Estate (Al Mudon) on Wednesday posted a 5.5% year-on-year increase in losses for the second quarter of 2018.

Net losses amounted to KWD 21,060 ($69,540) in Q2-18, compared to KWD 19,970 ($65,940) in Q2-17, according to the company’s statement to Boursa Kuwait.

For the first half of 2018, the firm’s losses declined 63.4% to KWD 35,960, from KWD 98,970 in H1-17.

The company attributed the increase in losses to a drop in associates' financial results.

As for Q1-18, Al Mudon’s losses went down 19% year-on-year to KWD 14,900.

By the end of Wednesday’s session, Al Mudon’s stock jumped 7% at KWD 32.