Mubasher: Ajial Real Estate Entertainment registered a decline of 18% in profits during fiscal year 2018 compared to the prior year.
Earnings shrank to KWD 2.46 million in FY18 from KWD 3 million in FY17, according to a bourse filing on Tuesday.
During the fourth quarter of 2018, Ajial Real Estate incurred a loss of KWD 574,000 ($1.9 million) compared to KWD 424,000 ($1.4 million) in the same period in 2017, a year-on-year increase of 35.4%.
The board members of Ajial recommended withholding dividends for the fiscal year ended on 31 December 2019.
