Mubasher: Boursa Kuwait on Tuesday resumed trading on Yiaco Medical’s stock after the company posted its results for the third quarter of 2017.
In a separate statement, Yiaco Medical said it logged KWD 482,100 ($1.6 million) in losses between July and September, down 10.4% from KWD 537,900 ($1.8 million) in the same period of 2016, according to a bourse filing.
The Kuwaiti medical firm also posted KWD 8.9 million in losses for the first nine months of 2017, registering a 271.8% surge in losses from KWD 2.4 million in the corresponding period of 2016.
The company attributed the higher nine-month losses to lower value of sales as well as higher provisions.
Yiaco previously reported widening its losses by 353% during the first six months of 2017 to KWD 8.47 million ($28.1 million) from KWD 1.87 million ($6.2 million) in H1-16.
By 10:41 am Kuwait time, Yiaco Medical’s stock plunged 8.57% to 160 fils, its lowest level since April 2016.
