Kuwait – Mubasher: Senergy Holding suffered higher losses during the second quarter of 2016 as compared to the same period of 2015.
Losses deepened by 109% to about KWD 200,760 ($665,000) in Q2-16 from around KWD 96,060 ($318,150) in Q2-15, according to a bourse statement.
During the first half this year, losses jumped 413.3% to approximately KWD 426,000 as compared to nearly KWD 83,000 in H1-15.
The company said that the increase in losses resulted from a “decrease in foreign currency translation reserve reclassified KWD 374,425.”
