Mubasher: Warba Capital Holding trimmed its losses by 50.9% in its first financial quarter ended 31 October 2019, compared with last year, the company said in a Boursa Kuwait filing.
Warba Capital posted losses of KWD 64,880 ($214,150) in the period between August and October, compared with KWD 132,160 ($436,230) in the same period a year ago, the bourse statement showed.
Warba continued to endure losses due to the higher sales costs.
However, total operating revenue amounted to KWD 205,468 in the first quarter, soaring by 303.6% from KWD 50,915 the year before.
It is worth noting that Warba Capital’s annual losses shrank by 91.4% to KWD 629,310, during the fiscal year ended 31 July 2019, from KWD 7.3 million.
