Mubasher: The net loss of Ajwan Gulf Real Estate plunged by 92.2% in the fiscal year (FY) 2019 to reach KWD 292,495 from KWD 3.73 million in 2018.

The recorded annual net loss was helped by a rise in operating expenses resulting from higher expenses and other charges during the period, according to a stock exchange statement on Thursday.

In the fourth quarter (Q4), losses narrowed by 98.2% to KWD 63,118 from KWD 3.44 million in the corresponding quarter in 2018.