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.