Mubasher: The unaudited financial statements of Kuwait Building Materials Manufacturing reported a decline of 14.61% in profits during the fourth quarter of 2016 as compared to the same period a year ago.
Earnings decreased to nearly KWD 71,620 ($234,080) in Q4-16 from around KWD 83,880 ($274,150) in Q4-15, according to a bourse filing issued on Sunday.
During the fiscal year this year, profits declined by 48.36% to total approximately KWD 230,820 when compared to about KWD 446,940 in the previous fiscal year.
Operating revenue shrank by 25.59% to reach around KWD 725,850 in FY16 from nearly KWD 975,420 in FY15.
