Mubasher: Al Mazaya Holding, listed on both the Dubai Financial Market (DFM) and Boursa Kuwait, turned to losses during the third quarter (Q3) of 2019, as shown by the company's financial results.

The losses amounted to KWD 3.91 million ($12.9 million) over Q3-19, against a profit worth KWD 4.82 million ($15.9 million) in the year-ago period, according to a bourse filing on Sunday.

During the period from January to September 2019, the company suffered losses of KWD 5.03 million, against profits worth KWD 1.92 million in the same period in 2018.

Losses are ascribed to lower revenues and the loss resulted from the impairment of properties that were held for trading.

During the first six months of 2019, the company’s profit dipped by 61.4% to KWD 1.12 million from KWD 2.9 million in H1-18.