Mubasher: Kuwait Business Town Real Estate posted a decline of 54.6% in profits during the fourth quarter of 2016 when compared to the same period a year ago.
Earnings decreased to KWD 1.86 million ($6.09 million) in Q4-16 from KWD 4.1 million ($13.41 million) in Q4-15, according to a recent bourse filing.
During the fiscal year of 2016, the real estate firm reported a drop of 36.2% in profits to KWD 3.16 million from KWD 4.59 million in the prior fiscal year.
The board members recommended a cash dividend of 2% or 2 fils per share as well as 5% bonus shares or 5-for-100 fils.
