Mubasher: Kuwait-based, Mashaer Holding on Thursday turned to losses in the third quarter of 2017, against achieving profits in the year-ago period.
The company’s losses reached KWD 597,180 ($1.98 million) in Q3-17, against profits of KWD 503,400 ($1.67 million) in Q3-16, according to a statement to Boursa Kuwait.
The Kuwaiti firm suffered losses of KWD 19,280 in the first nine months of 2017, against KWD 584,800 profits in the same period in 2016.
Mashaer Holding attributed the decrease in its profits from January to September 2017 to a provision of tax claim at a value of KWD 1.03 million.
