Mubasher: Hilal Cement registered a drop of 92.6% in losses during fiscal year 2018 compared to the same period last year.
Losses shrank to about KWD 68,750 ($226,820) in FY18 from nearly KWD 924,750 ($3.05 million) in FY17, according to a bourse disclosure on Monday.
The decrease in losses is attributed to higher revenues and lower expenses.
During the fourth quarter of 2018, Hilal Cement decreased by 34.2% to around KWD 577,610 from nearly KWD 878,180 in the corresponding period last year.
The board members of Hilal Cement have recommended 15% of the capital as cash dividends for FY18 or 15 fils per share at a total of KWD 1.52 million.
