Kuwait-Mubasher: The earnings of Real Estate Trade Centers (Marakez) plunged by 45.5% in the fourth quarter of 2015 as compared to the same quarter of 2014, according to a bourse filing.
The company made profits of about KWD 115,000 ($383,200) in Q4-15 as compared to nearly KWD 211,000 ($703,100) in Q4-14.
Marakez reported 85.6% decline to nearly KWD 16,000 in profits during the fiscal year 2015, compared to KWD 111,000 a year earlier.
The board has recommended withholding dividends for FY15.
The company’s stock rose 3.03% to settle at 34 fils during the opening of Monday’s trading session, after about 2,000 shares were traded with a value of about KWD 68.
