Mubasher: Kuwait-based Salbookh Trading on Sunday reported a 19% year-on-year increase in losses during the fourth quarter of 2018.
The company’s losses reached KWD 189,140 ($623,040) during Q4-18, compared to KWD 157,230 ($517,930) in Q4-17, according to a statement to Boursa Kuwait.
During the full-year 2018, Salbookh’s losses rose 98.8% to KWD 811,350, from KWD 408,020 a year earlier.
The company ascribed the hike in the previous-year losses to a drop in sales’ value, fierce competition, combined with higher costs.
The board recommended not to distribute cash dividends for 2018.
