Kuwait-Mubasher: Ikarus Petroleum Industries suffered losses worth KWD 5.09 million ($16.91 million) in the fourth quarter of 2015 as compared to KWD 104,000 ($345,500) in the same quarter of 2014, according to a statement.
The company’s losses stood at KWD 7.84 million during the fiscal year of 2015, against profits worth KWD 10.11 million in FY14.
The board has recommended freezing dividends for FY15.
Ikarus stock ended Wednesday’s trading session at 82 fils after about 460,100 shares were exchanged at about KWD 37,600.
