Kuwait-Mubasher: Kuwait and Middle East Financial Investment (KMEFIC) posted an increase of 153.6% in losses for the fourth quarter of 2015 as compared to the same period in 2014, according to a recent statement.
KMEFIC’s losses reached KWD 2.79 million ($9.27 million) in Q4-15, compared to KWD 1.1 million ($3.65 million) in Q4-14.
The company suffered losses worth KWD 2.42 million ($8.04 million) in the fiscal year 2015, compared to KWD 1.09 million ($3.62) a year earlier, a growth of 122%.
The board of KMEFIC has recommended withholding dividends for FY15.
The company’s shares did not witness any trades until the mid-session of Wednesday, after the stock closed at 26 fils on Tuesday.
