Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) achieved a growth of 95.4% in profits during the fourth quarter of 2016 as compared to the same period of 2015.
Earnings increased to KWD 1.78 million ($5.81 million) in Q4-16 from KWD 913,000 ($5.22 million) in Q4-15, according to a bourse statement issued on Wednesday.
During the fiscal year, profits rose by 35.9% to total KWD 6.33 million from KWD 4.66 million in the previous fiscal year.
The board’s members recommended a cash dividend of 10% of capital or 10 fils per share for FY16.
