Kuwait-Mubasher: Boubyan Petrochemical’s profits shrank 37.5% to KWD 16.1 million ($53.36 million in the fourth quarter ended 30 April, 2016 as compared to KWD 25.74 million ($85.31 million) in the same period of 2015, the company said in a statement issued Wednesday.
During the fiscal year ended 30 April, 2016, earnings decreased by 17.1% to KWD 22.84 million ($75.77 million) as compared to KWD 27.54 million ($91.36 million) in the corresponding period in 2015.
Boubyan’s board has recommended 40% cash dividends of the capital or 40 fils per share for the fiscal year ended 30 April, 2016.
The stock ended Wednesday’s session at 540 fils, after rising 1.89%, as nearly 4,250 shares were traded with a value of KWD 2,300.
