Mubasher: Munshaat Real Estate Projects Co. reported an 8.8% year-on-year decrease in losses in the first quarter of 2019.
Munshaat’s losses amounted to KWD 1.45 million ($4.78 million) in Q1-19, down from KWD 1.59 million ($5.25 million) in Q1-18, according to a statement to Boursa Kuwait on Monday.
The real estate developer ascribed the decline in Q1-19 losses to a rise in financing costs, in addition to incurring losses in financial assets listed in its fair value (FV).
For the full fiscal year 2018, the company’s losses reached KWD 28.23 million, against a profit of KWD 4.31 million a year earlier.
