Mubasher: The Bahrain-based Ithmaar Holding reported net losses attributable to the equity holders of $1.29 million during the first half (H1) of 2020, against net profits of $8.37 million in the same period of 2019.

The basic and diluted losses per share stood at 0.04 cents in the first six months of 2020, compared to earnings per share (EPS) of 0.29 cents in the corresponding period of 2019, according to the company's financial results for the period ended on 30 June 2020.

Meanwhile, the company incurred accumulated losses of $795.6 million as of the second quarter (Q2) of 2020, representing 105% of the capital.

It is noteworthy to mention that in 2019, the company's net profits reached $669,000, versus net losses of $23.98 million in 2018.