Mubasher: KAMCO Investment registered a decline of 63.2% in profits during the fourth quarter of 2017 compared to the same period in the prior fiscal year.
Earnings shrank to about KWD 143,320 ($478,910) in Q4-17 from nearly KWD 389,590 ($1.3 million) in Q4-16, according to a bourse filing on Tuesday.
During FY17, KAMCO posted a drop of 10.9% in profits to KWD 1.14 million from KWD 1.28 million in the previous fiscal year.
KAMCO clarified that the drop in FY17 profits is attributed to higher financing costs.
The board members recommended a cash dividend of 5% or 5 fils per share for FY17.
