Mubasher: The financial statements of the Real Estate Trade Centers Co. (Marakez) suffered a loss of around KWD 36,950 ($121,720) during the second quarter of 2019, a 37.1% year-on-year increase in losses from nearly KWD 28,190 ($92,870).
In the first half of 2019, Marakez incurred losses worth around KWD 74,150 as compared to nearly KWD 58,090 in H1-18, with a 27.7% increase, the company said in a bourse disclosure on Thursday.
Marakez has ascribed the increase in losses in H1-19 to the lack of revenue covering expenses, according to the filing.
Noteworthy, in the first quarter of 2019, Marakez’s losses widened by 24.5% to around KWD 37,200, compared to around KWD 29,900 in Q1-18.
