Mubasher: International Financial Advisors (IFA) registered an increase of 112.6% in losses during the first quarter of 2019 compared to the same period a year ago.

Losses deepened to KWD 4.21 million ($13.88 million) in Q1-19 from KWD 1.98 million ($6.53 million) in Q1-18, according to a bourse disclosure on Thursday.

IFA, listed on both Boursa Kuwait and the Dubai Financial market (DFM), clarified that the higher loss is attributed to a decrease of KWD 4.25 million in the company’s share in results of an associate.