Kuwait – Mubasher: Credit Rating and Collection (Tahssilat) posted losses in the third quarter of 2016.
Losses reached KWD 61,000 ($200,900) in Q3-16, against profits of KWD 29,000 ($95,500) in the same period last year, according to the company’s filing to the Kuwait Stock Exchange (KSE) on Thursday.
As for the nine-month period, Tahssilat reported losses amounting to KWD 391,200, versus KWD 256,400 in losses in the same period last year.
Widening losses were due to the decline in the fair value of investments, the company said in its statement.
The Kuwaiti company suffered losses worth KWD 230,160 H1-16, versus losses worth around KWD 285,440 in the same period last year, down 19.4%.
