Mubasher: The financial statements of Kuwait Real Estate showed a plunge of 94.7% in profits during the fourth quarter of 2016 as compared to the same period of 2015.
Earnings shrank to KWD 73,000 ($239,080) in Q4-16 from KWD 1.38 million ($4.52 million) in Q4-15, according to a bourse filing issued on Thursday.
During the fiscal year, net profits grew 13.4% to total KWD 4.82 million from KWD 4.25 million in FY15.
The board members recommended zero dividends for FY16.
At the stock level, Kuwait Real Estate ended Thursday’s session 1.35% higher at 75 fils, after 15.55 million shares were traded at a value of KWD 1.15 million.
