Kuwait-Mubasher: IFA Hotels and Resorts (IFA HR) posted profits worth KWD 14.12 million ($46.51 million) in the fourth quarter of 2015, against losses worth KWD 18.12 million ($59.68 million) in Q4-14.
During the fiscal year 2015, the Kuwait-listed firm achieved profits worth KWD 2.4 million ($7.95 million), against losses worth KWD 29.92 million ($99.12 million) in fiscal year 2014.
The board of IFA Hotels has proposed withholding dividends for FY15, the same recommendation for FY14.
On the Kuwaiti stock exchange, IFA HR’s stock retreated 5.32% or 10 fils to settle at 178 fils in mid-session on Sunday, after about 9,700 shares were traded with a value of nearly KWD 1,730.
