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National Industries logs KWD 64m net losses in H1-20

National Industries logs KWD 64m net losses in H1-20
The loss per share settled at 46.1 fils
NIND
NIND
-1.26% 235.00 -3.00

Mubasher: National Industries Group Holding incurred KWD 64.145 million net losses in the first half (H1) of 2020, against net profits of KWD 43.205 million in the same half of 2019.

The net losses are caused by a decline in sales amounting to KWD  22.536 million due to the coronavirus (COVID-19) pandemic, according to the company's disclosure to Boursa Kuwait on Sunday.

The loss per share settled at 46.1 fils in H1-20, against earnings per share (EPS) of 31.1 fils in H1-19.

It is noteworthy to mention that in the first quarter (Q1) of 2020, the company's net losses reached KWD 76.004 million, compared to KWD 26.992 million net profits in the same quarter of 2019.