Kuwait – Mubasher: Arabi Group Holdings suffered losses of KWD 1.36 million ($4.47 million) during the third quarter of 2016 against profits worth about KWD 73,020 ($239,730) in the same quarter a year ago.

During the nine-month period, the company suffered losses of KWD 1.47 million versus earnings worth around KWD 589,610 in the corresponding period of 2015, according to a bourse statement issued on Wednesday.

The negative performance registered the financial statements is due to higher general and administrative expenses, the statement said.