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.