Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) reported a decrease of 29.9% in losses to KWD 1.96 million ($6.4 million) during the fourth quarter of 2016, from KWD 2.8 million ($9.16 million) in the same period of 2015.
During the fiscal year, KMEFIC posted an increase of 114.9% in losses to KWD 5.2 million from KWD 2.42 million in FY16, according to a bourse statement issued on Sunday.
The rise in FY16 losses resulted from provision losses, the statement said.
The board members recommended zero dividends for the fiscal year.
