Kuwait-Mubasher: Qurain Petrochemical Industries reported a decline of 18.5% in profits of the fourth quarter ended 31 March, 2016 as compared to the same period in 2015, according to a bourse statement issued Tuesday.
Earnings decreased to KWD 13.39 million ($44.41 million) in the fourth quarter, from KWD 16.43 million ($54.49 million) in the same period in 2015.
During the fiscal year ended 31 March, 2016, profits shrank to KWD 24.71 million ($81.96 million) as compared to KWD 31.35 million ($103.99 million) in the previous fiscal year; a decrease of 21.2%.
The board has recommended a 10% cash dividends of the capital or 10 fils per share for FY15.
Qurain Petrochemical ended Tuesday’s session falling 1% to 210 fils, as liquidity reached about KWD 19,340 after nearly 91,040 shares were traded.
