Mubasher: The initial financial statements of Al Salam Group Holding showed a turn to losses over the fiscal year ended 31 December 2019 at KWD 83,328 (around $274,350), against a profit of KWD 317,946 (about $1.05 million).
Loss per share (LPS) recorded 0.309 fils last year, against earnings per share (EPS) of 1.18 fils in 2018, according to a bourse statement on Tuesday.
The loss is ascribed to a decline in the company’s share in the results of its associate business.
During the first nine months of 2019, the group’s losses hiked by 40% to nearly KWD 403,500 when compared to about KWD 287,700 in the same period in 2018.
Al Salam Group is dually listed on the Dubai Financial Market (DFM) and Boursa Kuwait.
Source: Mubasher
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