Mubasher: Alrai Media Group posted a decline of 26.4% in profits during the fourth quarter this year as compared to the same period a year ago.
Earnings decreased to KWD 1.17 million ($3.83 million) in Q4-16 from KWD 1.59 million ($5.21 million) in Q4-15, according to a bourse statement issued on Thursday.
During the fiscal year of 2016, profits shrank by 34.9% to total KWD 4.11 million from KWD 6.31 million in FY15.
The board members have recommended a cash dividend of 20% or 20 fils per share for FY16, the statement said.
On the stock level, Alrai ended Thursday’s trading session lower with 1.37% to 144 fils, after 33,500 shares were traded at a value of about KWD 4,800.
