Mubasher: National Shooting Company (Mayadeen) registered an increase of 17.8% in losses during the second quarter of 2017 compared to the same period a year ago.

Mayadeen suffered a loss of nearly KWD 655,700 ($2,200) in Q2-17 compared to about KWD 556,600 ($1,000) in Q2-16, according to a bourse filing issued on Sunday.

During the first six months of 2017, losses decreased by 3.27% to KWD 1.29 million from KWD 1.34 million in H1-16.

The decline in H1-17 losses is attributed to higher operating revenues and lower interest expenses, Mayadeen clarified.

In the first quarter of 2017, Mayadeen posted a decline of 18.2% in losses to nearly KWD 642,620 from approximately KWD 785,610 in Q1-16.

At the stock level, Mayadeen closed Sunday’s session 2.11% higher at 29.1 fils.