Mubasher: Gulf Franchising Holding reported a 5.6% year-on-year decline in losses during the second quarter of 2019.
The company incurred losses of about KWD 67,810 (approximately $223,300) in Q2-19, versus nearly KWD 71,800 (around $236,400) in the same period a year earlier, according to the company’s statement to Boursa Kuwait on Wednesday.
During the first half of 2019, Gulf Franchising registered a decrease of 2.5% in losses to nearly KWD 148,140 from around KWD 151,860 in H1-18.
The decline in H1-19 losses is attributed to higher operating revenues resulted from new acquisitions.
It is worth to mention that during the first quarter of 2019, Gulf Franchising’s losses slightly widened to reach around KWD 80,330, versus around KWD 80,060 in Q1-18
