According to the company’s statement to the Stock Exchange today, these losses have decreased by 76.5% compared to the losses of 2018 in the amount of 14.52 million dinars.
The company said that the decrease in losses during the comparison years is due to the shift in the performance of the associate companies from loss to profitability in the past year.
The company also attributed the decrease in losses to the reduction of taxes during the past year in Kuwait.
The company recorded losses in the fourth quarter of last year of 3.19 million dinars, compared to losses of 8.61 million dinars for the same period in 2018, a decline of 63%. p>
The company’s board of directors, in its meeting held last Thursday, recommended not to distribute profits for the year 2019.
