Kuwait – Mubasher: Kuwait Packing Materials Manufacturing Company’s profit declined in the fourth quarter of the fiscal year 2015 by 0.07% to KWD 594,760, versus KWD 595,180 in the same period of 2014.
Annual profit rose 20.2% to KWD 2.32 million in 2015, compared to KWD 1.93 million in 2014.
The company attributed the rise in annual profit to increasing sales and lower costs of raw materials, according to a bourse filing.
The company’s board of directors recommended during its meeting on Sunday cash dividends at 30% of the share’s par value or 20 fils for the fiscal year 2015.
Earlier in mid-April 2015, the company’s general meeting approved cash dividends at 20% for the fiscal year 2014.
K-PAK’s nine-month profit reached KWD 1.7 million, versus KWD 1.33 million in the same period of 2014.
