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Kuwait Syrian Holding Q4 financials turn to losses

Kuwait Syrian Holding Q4 financials turn to losses
Kuwait Syrian closed Tuesday’s session 3% lower at 48.5 fils
EMIRATES
EMIRATES
-3.33% 40.60 -1.40

Mubasher: Kuwait Syrian Holding incurred an increase of 575% in losses during the fourth quarter of 2018 compared to the same period a year ago.

Losses enlarged to nearly KWD 465,630 ($1.53 million) in Q4-18 compared to about KWD 68,990 ($227,320) in the same period a year ago, according to a bourse statement on Tuesday.

During fiscal year 2018, Kuwait Syrian turned to a loss of KWD 573,560 against a net profit of nearly KWD 580,360 in FY17.

Lower revenue from investments impacted FY18 financials and cause losses.

At the stock level, Kuwait Syrian closed Tuesday’s session 3% lower at 48.5 fils.