Mubasher: The financial results of Credit Rating and Collection (Tahssilat) showed that the company swung to loss for the first quarter of 2018.
Net losses amounted to KWD 114,130 in the three-month period ended March 2018, against a profit of KWD 1.08 million in Q1-17, according to the company’s statement to Boursa Kuwait on Monday.
Kuwait-based Tahssilat attributed the negative turn in its financials to a reduction in investments’ market value.
For the full-year 2017, Tahssilat’s profits reached KWD 274,300, against losses of KWD 5 million during 2016.
By the end of Monday’s session, Tahssilat’s stock dropped 9.8% at 21.2 fils.
