Kuwait - Mubasher: Al Salam Group Holding’s losses widened 167.2% year-on-year in the third quarter of 2016.
The company’s losses reached KWD 254,580 ($840,000) in Q3, compared to KWD 95,280 ($314,400) in Q3-15, according to a bourse filing on Thursday.
Al Salam’s profits surged 238.7% to KWD 205,840 in the first nine months of 2016 from KWD 60,780 in the year-ago period.
The increase in losses was attributed to higher contracts’ revenues and the company’s share in the results of associated companies, the statement said.
The Kuwait-listed company rose 3.5% to 45 Kuwaiti fils, through trading 2.12 million shares at a value of KWD 94,420 on Thursday.
