Kuwait – Mubasher: Zima Holding suffered losses during the third quarter of 2016 versus profits in the same period a year ago.
Losses stood at about KWD 6,476 ($21,360) in Q3-16 against earnings worth nearly KWD 179,219 ($591,200) in Q3-15, according to a bourse statement issued Wednesday.
From January to September this year, Zima achieved profits worth about KWD 27,000 as compared to nearly KWD 60,760 in the same period a year ago; a decline of 55.5% year-on-year.
Zima clarified that the negative performance is attributed to the company’s share in the financials of an associate.
