Mubasher: IFA Hotels and Resorts turned to profit during the second quarter of 2019, recording KWD 748,880 ($2.47 million) in profit, according to a bourse statement released on Wednesday.
In the first six months of 2019, IFA’s loss grew by 19% to KWD 3.91 million, compared to KWD 3.29 million a year earlier.
The company ascribed the increase in its loss in H1-19 to the decline in the sales of a subsidiary and the growth of operating expenses.
IFA incurred an increase of 556.9% in losses during the first quarter of 2019 compared to the same period last year, registering KWD 4.66 million.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
