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Arabi Group turns a loss in Q2

Arabi Group turns a loss in Q2
The company logged KWD 107,109 ($355,400) net losses in Q2 - Photo Credit: Company's Website
AGHC
AGHC`R
-2.53% 385.00 -10.00

Kuwait – Mubasher: Arabi Group Holdings turned into losses during the second quarter of 2016, according to a bourse filing.

The company logged KWD 107,109 ($355,400) net losses against KWD 353,880 ($1.2 million) profits for the second quarter of 2015.

Over the first half, the company lost KWD 103,794 versus KWD 516,581 profits for the year-ago period.

The company attributed these losses to an increase in general and administrative expenses and in financing costs.