Mubasher: Egypt Kuwait Holding (EKH) posted a decline of 55% in profits during the fourth quarter of 2018, compared to the same period a year ago.
Earnings decreased to KWD 4.88 million ($16.08 million) in Q4-18 from KWD 10.7 million ($35.43 million) in Q4-17, according to a bourse statement on Thursday.
During fiscal year 2018, EKH posted a slide of 22% in profits to KWD 25 million ($82.48 million) from KWD 32.04 million ($106 million) in FY17.
The board members of EKH, listed on both Boursa Kuwait and the Egyptian Exchange (EGX), recommended 20% of capital as cash dividends for FY18 at a total of KWD 15.55 million ($51.22 million).
EKH added that operating revenues grew by 33% to KWD 140.25 million in FY18 from KWD 105.41 million in the prior year.
