Mubasher: The Commercial Real Estate (Al-Tijaria) reported a drop of 46.5% in profits during the fourth quarter of 2016 as compared to the same period a year ago.
The company achieved KWD 6.9 million ($22.6 million) worth profit in Q4-16, compared with KWD 12.9 million ($42.2 million) in Q4-15, according to a bourse filing issued on Tuesday.
During the fiscal year of 20106, profits decreased by 25.8% to KWD 15.3 million from KWD 20.6 million in the previous fiscal year.
The board has recommended a cash dividend of 5% or 5 fils per share for FY16, according to the statement.
