Mubasher: Kuwait-based International Finance Advisor (IFA) on Monday posted a 90% year-on-year fall in losses during the fourth quarter of 2018.
The company’s final losses amounted to KWD 937,420 ($3.09 million) in Q4-18, compared to KWD 9.72 million ($32.02 million), according to the company’s final financials on Boursa Kuwait.
On a yearly basis, IFA’s losses hiked 48% to KWD 12.26 million in the full-year 2018.
It is noteworthy that IFA is listed on Boursa Kuwait and the Dubai Financial Market (DFM).
IFA further noted that it sold parts of some subsidiaries last year that led to losses at KWD 3.81 million.
The company’s board recommended not to distribute dividends for the full-year 2018.
