Kuwait-Mubasher: Hilal Cement’s losses deepened by 2301.6% in the second quarter of 2016 as compared to the same period in 20105, according to a bourse statement issued Wednesday.
Losses reached about KWD 394,340 ($1.3 million) in Q2-15 versus nearly KWD 16,420 ($54,200) in Q2-15.
During the first half of 2016, Hilal reported profits worth approximately KWD 20,660 against losses of around KWD 95,110 in the same half of 2015.
The company clarified that the positive turn in H1 financials resulted from a decrease in the cost of sold goods.
