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Khot Infrastructure reports fall in Q2 losses

Mongolian roads and bridges builder Khot Infrastructure Holdings Ltd reported a halving in losses in its second quarter results published on Friday

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Losses decrease substantially in Q2

Mongolian roads and bridges builder Khot Infrastructure Holdings Ltd (CNSX:UTM, CNSX:KOT) reported a halving in losses in its second quarter results published on Friday.

The comprehensive loss for the three and six months ended June 30, were C$71,860 versus C$208,740 in 2015, and C$176,236 versus C$300,198 a year ago, respectively.

Administrative expense decreases helped to reduce the losses. The expenses decreased by C$42,424 and C$66,296 for the three and six months periods versus June 2015.

The decrease is due to a reduction in contractor fees as well as other expenses is due to a decrease in activity in both the AMZ and Khot during the quarter as the company had not received any additional construction contracts during that period.

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CSE:KOT
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