Mubasher: The preliminary financial statements of Ekttitab Holding showed a 23.5% annual drop in losses over the fiscal year ended 31 December 2019.

Losses amounted to KWD 452,175 (approx. $1.49 million) last year when compared to KWD 591,244 (approx. $1.95 million) in the previous fiscal year, according to a bourse statement on Wednesday.

Loss per share fell to 1.41 fils by 2019 year-end from 1.86 fils in 2018, while revenues totalled KWD 175,965 as compared to KWD 295,239.   

Net operating loss totalled KWD 20,969 last year when compared to KWD 55,143.     

The company ascribed the 2019 financial results to losses from investments.   

It is worth noting that over the third quarter (Q3) in 2019, losses of the holding firm widened by 322% annually to nearly KWD 143,350 ($472,840) from about 33,980 ($112,080).

Ekttitab Holding is dully-listed on the Dubai Financial Market (DFM) and Boursa Kuwait.