Mubasher: Al Salam Group Holding registered an increase of 232% in losses during fiscal year 2018 compared to the previous year.
Losses enlarged to KWD 276,000 ($910,700) in FY18 from nearly KWD 83,070 ($274,000) in FY17, according to a bourse statement on Thursday.
Revenues shrank by 20.6% to nearly KWD 300,500 in FY18 from around KWD 949,600 in FY17, this had a negative impact on its losses to increase.
On 13 February, Al Salam Group announced that its subsidiary was awarded a tender valued at KWD 7.83 million ($25.8 million).
It is noteworthy that Al Salam is listed on both Boursa Kuwait and the Dubai Financial Market (DFM).
