Mubasher: IFA Hotels and Resorts has reported a 32.3% year-on-year loss decline during the third quarter of 2019.

The company’s loss went down to KWD 4.49 million in Q3-19, compared to KWD 6.64 million in the year-ago period, according to a bourse statement.

In the first nine months of 2019, IFA’s loss decreased to KWD 8.41 million, from KWD 9.94 million a year earlier.

It is worth noting that the Boursa Kuwait-listed company turned to profit during the second quarter of 2019, recording KWD 748,880 ($2.47 million) in profit.