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  • 01-06-20

    Abyaar posts 50 percent decline in 2019 net losses

    (MENAFN)




    Abyaar Real Estate Development said that it saw a drop of 50 percent in its net losses in 2019 compared to a year earlier.

    A statement released by the company to Boursa Kuwait said that the company saw a total of USD51.2 million in net losses in the earlier year, representing a drop from the USD102.7 million losses reported a year earlier in 2018.

    The decline in net losses came due to the company's share sales in a land plot, along with a drop in investments in associates and accounts receivable, and properties valuation loss.

    The net operating losses of company increased to USD2.6 million in 2019 in comparison with USD2.2 million in 2018.

    MENAFN0106202000450000ID1100253600

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