Mubasher: The losses of Gulf Petroleum Investment (PetroGulf) shrank by 95% to KWD 98,000 ($320,510) during the fourth quarter of 2016 from KWD 1.94 million ($6.35 million) in the same quarter of 2015.
During fiscal year 2016, the company achieved a profit of KWD 2.28 million against a loss of KWD 7.34 million in FY15, according to a bourse statement issued on Thursday.
Following the financial statements’ announcement, Boursa Kuwait has decided to resume trading on PetroGulf’s stock starting on Thursday.
At the stock level, PetroGulf on Thursday gained 4.3% to reach 55 fils by 10:28 am Kuwait time, posting the highest trading volume of 19.9 million shares at a value of KWD 1.04 million.
