Kuwait - Mubasher: National Slaughter House (NHS) reported a rise in profits to KWD 93,860 ($306,440) in the fourth quarter of 2016 against losses of KWD 774,600 ($2.53 million) in the same period of 2015, the company’s financial data revealed.
The company turned to profits of KWD 28,970 during 2016, compared to losses of KWD 567,110 in 2015.
The turn to profits came due to the lack of investment losses, the company said in a statement to Boursa Kuwait on Wednesday.
The board recommended in its ordinary general meeting (OGM) held Wednesday to not distribute last year’s profits, as in 2015.
During the first nine months of 2016, the company lost KWD 64,890 against profits of KWD 207,490 in the same period of 2015.
At the beginning of last November, the company specified 25 April as the last day of trading on its stocks before delisting from the Boursa Kuwait.
NHS’ stock topped Wednesday’s trading by rising 8.47% at 64 fils per share.
