Kuwait-Mubasher: National Ranges (Mayadeen)'s losses shrank 30.5% year-on-year to KWD 556.630 ($1.84 million) in the second quarter of 2016 from KWD 800.630 ($2.65 million).

The company's losses also lessened 15.71% to KWD 1.34 million in the first half of 2016 from KWD 1.59 million in the year-ago period, according to a bourse filing on Thursday.

On the other hand, operating revenues hiked 98.4% to KWD 233,780 in Q2-16 from KWD 117,830 in Q2-15. They also levelled up 53.25% to KWD 468,970 in H1-16.

Lower profits achieved in Q2 were attributed to higher operating revenues and lower accrued interest expense.