Kuwait – Mubasher: Al Salam Group Holding, listed on Kuwait’s, Dubai’s, and Egypt’s bourses, swung to losses in the second quarter of 2017, according to a bourse statement.
The company incurred losses of KWD 318,200 ($1.06 million) in Q2-17, compared to profits of KWD 93,910 ($311,640) in Q2-16.
In the first half of 2017, losses reached KWD 305,700 against profits of KWD 460,410 generated in the prior-year period.
Al Salam’s negative results are mainly attributed to a decline in the company’s share in associates’ financials.
