Mubasher: The financial statements of Senergy Holding Company revealed an 86.4% year-on-year increase in losses during the second quarter of 2019.
The losses of the period depended to around KWD 227,620 ($750,580) from about KWD 122,110 ($402,660) in Q2-18, Senergy Holding disclosed to Boursa Kuwait on Thursday.
In the first half of 2019, the company’s losses enlarged to nearly KWD 434,580 from around KWD 320,260 in H1-18, with a 35.7% increase.
The company attributed the increase in net losses to the decrease in gross profit as well as in the commission income by around KWD 113,000 and about KWD 63,000, respectively.
Noteworthy, in the first quarter of 2019, Senergy Holding’s losses rose by 4.5% to nearly KWD 206,960 from approximately KWD 198,150 in Q1-18
