Mubasher: Salbookh Trading posted an 11.1% year-on-year (YoY) increase in losses during the third quarter (Q3) of the year, as shown by the company’s financial results.

Losses amounted to KWD 228,370 ($753,400) in Q3-19, up from KWD 205,540 ($678,080) in Q3-18, according to a statement to Boursa Kuwait on Tuesday.

Moreover, the trading firm posted a 56.2% increase in losses during the first nine months of the year to KWD 971,740, up from KWD 622,210 in the corresponding period in 2018.

Lower sales due to decreased global demand, intensified competition, and higher costs were the primary reasons behind the increase in losses in between January and September.