Mubasher: The net losses of Ekttitab Holding hiked by 101% to KWD 911,256 in 2020, compared to KWD 452,523 in 2019.

Higher net losses are driven by provisions for expected credit losses, according to a bourse filing on Wednesday.

The basic and diluted losses per share settled at KWD 2.86 last year, compared to KWD 1.42 in 2019.

Meanwhile, the company incurred accumulated losses of KWD 15.09 million as of the fourth quarter (Q4) of 2020, representing 47% of the company's capital.

It is noteworthy to mention that during the first nine months of 2020, Ekttitab Holding has achieved net profits of around KWD 60,310, against about KWD 380,570 net losses in the year-ago period.