Kuwait-Mubasher: Munshaat Real Estate Projects made losses worth KWD 3.89 million ($12.81 million) in the fourth quarter of 2015, against profits worth KWD 1.47 million ($4.84 million) in Q4-14.
The Kuwait-listed firm reported earnings worth about KWD 960,700 ($3.18 million) during the fiscal year of 2015, compared to KWD 11.6 million ($38.43 million) in FY14, a decrease of 91.7%.
Munshaat’s board recommended withholding dividends for FY15.
On the stock market, Munshaat retreated 1.08% to 46 fils before closing Sunday’s session, after 1.02 million shares were exchanged with a value of about KWD 45,810.
