Kuwait - Mubasher: Gulf Franchising Holding Company (GFC) reported a 44.6% decline in net losses in the second quarter of 2016, to approximately KWD 56,740 ($187,730) compared to around KWD 102,370 ($338,690) in the same period last year.
The decrease in profits is attributed to lower costs, as well as higher revenues and returnsfrom investments, the company said in a bourse statement issued Thursday.
As for the first half of the year, losses fell 76.1% to about KWD 38,830 from nearly KWD 162,200 in H1-15.
