Kuwait-Mubasher: Al Safat Energy Holding incurred losses of about KWD 225,200 ($746,700) in the first quarter of 2016, versus profits worth about KWD 13,100 ($43,400) in the corresponding period in 2015, the company said in an issued statement.
Al Safat clarified that the negative turn in Q1 financials resulted from a decrease in “foreign currencies translation reserve reclassified KWD 355,325”.
