Kuwait-Mubasher: KGL Logistics reported a 47.4% in year-on-year decline profits for the fourth quarter in 2015.
KGL’s profits reached about KWD 451,500 ($1.49 million) in Q4-15, compared to nearly KWD 858,700 ($2.84 million) in Q4-14.
The company registered earnings worth KWD 5.86 million ($19.39 million) in 2015, compared to KWD 5.23 million ($17.3 million) in FY14, an increase of 12%.
The board has recommended distribution of 8% cash dividends or 8 fils per share for the fiscal year 2015.
On the Kuwaiti stock market, KGL started Tuesday’s session with a rise of 7.7% or 5 fils to 70 fils, after about 864,500 shares were traded with a value of about KWD 60,500.
