Aref Energy says full-year losses widened to 9.96mn Kuwaiti dinars

31/01/2013 10:26 AST

Kuwait's Aref Energy Holding Co said yesterday full-year losses widened to 9.96mn Kuwaiti dinars ($35.42mn) in 2012 compared with a 5.11mn loss dinars in the previous year.

The company's fourth-quarter loss, however, narrowed sharply to about 497,000 dinars from 3.73mn dinars a year earlier, according to Zawya Dow Jones calculations and Zawya.com data.

A substantial loss in the first quarter of 2012 accounted for a major chunk of the full-year loss; Aref improved its results in the subsequent quarters of the year compared with 2011, as per Zawya data.

The company, a unit of Kuwait Finance House, said in a statement posted on the Kuwait bourse website that full-year losses per share widened to 13.3 fils from 6.8 fils in 2011.


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