Mubasher: The losses of Hits Telecom Holding shrank by 6.1% to total KWD 5.97 million ($1.6 million) during the fourth quarter of 2016 from KWD 6.36 million ($1.7 million) in the same period of 2015.

The company, which is listed on both Boursa Kuwait and Dubai Financial Market (DFM), reported a decline of 5.3% in losses during fiscal year 2016 when compared to KWD 5.68 million in the previous fiscal year, according to a bourse statement issued on Thursday.

At the stock level, Hits Telecom gained 3.16% to close Thursday’s session at 49 fils at Boursa Kuwait, and it rose by 11.29% at AED 0.7 at DFM.