Mubasher: Al Madar Finance and Investment on Thursday reported a 91.8% year-on-year drop in losses during the fourth quarter of 2017.
Losses trimmed to KWD 247,000 in Q4-17, down from KWD 3.02 million in Q4-16, according to the company’s statement to Boursa Kuwait.
For the full-year 2017, Al Madar’s losses declined 58.2% to KWD 2.18 million against KWD 5.22 million in the year before.
The decline in losses in 2017 is attributable to a decrease in loss from selling investments in fair value, in addition to the hike of real estate prices.
In the first nine months of 2017, the company’s losses decreased 11.8% to KWD 1.94 million versus KWD 2.2 million in the corresponding period of 2016.
