Ajwan incurs KWD3.5m losses in Q4

Mubasher: Ajwan Gulf Real Estate has suffered KWD 3.45 million ($11.36 million) in losses during the fourth quarter of 2018.

The company, listed on Bursa Kuwait, has deepened its losses by 9430.4% in Q4-18 from KWD 36,200 ($119,150) in Q4-17.

In 2018, Ajwan incurred KWD 3.74 million losses, a year-on-year increase of 3141.5% from KWD 115,380 in 2017, Ajwan said in a bourse statement on Sunday.

The losses increased as operating expenses rose by KWD 132,030, while the goodwill value of its subsidiaries declined by KWD 2.03 million, in addition to a drop of KWD 1.28 million in investments in a joint venture.

Accordingly, Boursa Kuwait decided to resume trading on Ajwan’s stock as of 14 April.

Mubasher Contribution Time: 14-Apr-2019 06:39 (GMT)
Mubasher Last Update Time: 14-Apr-2019 07:10 (GMT)