Mubasher: The initial financial statements of Al Salam Group Holding showed a turn to losses over the fiscal year ended 31 December 2019 at KWD 83,328 (around $274,350), against a profit of KWD 317,946 (about $1.05 million).   

Loss per share (LPS) recorded 0.309 fils last year, against earnings per share (EPS) of 1.18 fils in 2018, according to a bourse statement on Tuesday.

The loss is ascribed to a decline in the company’s share in the results of its associate business. 

During the first nine months of 2019, the group’s losses hiked by 40% to nearly KWD 403,500 when compared to about KWD 287,700 in the same period in 2018.  

Al Salam Group is dually listed on the Dubai Financial Market (DFM) and Boursa Kuwait.