Kuwait – Mubasher: Egypt Kuwait Holding turned profitable in the fourth quarter of 2016, according to a bourse statement.
Profits reached $12.18 million in Q4-16, against losses of $4.14 million in Q4-15.
The company generated $53.54 million in fiscal year 2016, up 135.1% from $22.77 million a year earlier.
The annual results were backed by the increase in activity profit to $59 million in FY16 on the back of a rise in gas, chemicals, and fertilizers activities.
The board approved 12.5% dividends, or 3.125 cents per share, for FY16.
