Kuwait-Mubasher: Al Madina for Finance and Investment suffered losses worth KWD 5.82 million ($19.24 million) in the fourth quarter of 2015, 178.5% higher from KWD 2.09 million ($6.91 million) in the same period of 2014.

The company, which is listed on the Kuwaiti and Dubai bourses, posted losses worth KWD 4.81 million ($15.93 million) during the fiscal year 2015, compared to KWD 13.95 million ($46.19 million) in 2015.

Al Madina will hold a board meeting on 3 April to discuss the consolidated statements for the fiscal year ended 31 December, 2015.

On the Kuwaiti bourse, Al Madina started Wednesday’s session with a rise of 1.64% to 31 fils in KSE, while the stock saw no trades in DFM.