Mubasher: Kuwait-based Yiaco Medical has incurred higher losses by 353% during the first six months of 2017 compared to the same period a year ago.
Losses deepened to KWD 8.47 million ($28.1 million) in H1 this year from KWD 1.87 million ($6.2 million) in the corresponding period in 2016, according to a bourse statement on Thursday.
The increase in losses is attributed to lower profit margin of the company’s sales to the health ministry as well as calculating some provisions.
Operating losses enlarged by 335.5% to KWD 8.1 million in the first half of 2017 against a loss of KWD 1.86 million in H1-16.
