Kuwait – Mubasher: Al Mal Investment reported a decrease of 97% in losses during the first quarter of 2017, compared to the same period in 2016.
Losses shrank to nearly KWD 145,540 ($477,040) in Q1-17 from KWD 5.34 million ($17.5 million) in Q1-16, according to a bourse statement on Thursday.
Losses per share stood at 0.22 fils in Q1-17, compared with 7.97 fils in Q1-16.
It is noteworthy that Al Mal incurred a loss of KWD 18.3 million in fiscal year 2016, versus profits worth KWD 6.3 million in FY15.
