Kuwait – Mubasher: Senergy Holding reported a decrease of 8% in losses during the first quarter of 2017, compared to the same period of the prior year.

The company’s losses declined to about KWD 207,200 ($679,140) in Q1-17 from nearly KWD 225,200 ($738,140) in Q1-16, according to a bourse filing issued on Thursday.

Senergy clarified that the drop in Q1 losses is attributed to registering a provision of doubtful loans worth about KWD 99,050, as well as higher operating profits.