Mubasher: Kuwait Gypsum Manufacturing and Trading posted a drop of 48.9% in profits during the fourth quarter of 2016 as compared to the same period of the prior year.
The company’s profits shrank to KWD 95,000 ($311,470) in Q4-16 from KWD 186,000 ($609,820) in Q4-15, according to a bourse filing issued on Tuesday.
During the fiscal year, earnings decreased by 5.2% to KWD 257,000 from KWD 271,000 in the previous fiscal year.
The board members recommended a cash dividend of 5% or 5 fils per share for FY16, the statement noted.
