Kuwait-Mubasher: Refrigeration Industries Company (RIC) recorded 146.9% surge in earnings for the fourth quarter in 2015 as compared to the same quarter in 2014.
The Kuwaiti company posted about KWD 544,140 profits in Q4-15, compared to around KWD 220,410 in Q4-14.
During the fiscal year 2015, the company’s profits reached KWD 3.77 million as compared to KWD 3.14 million in FY14, a rise of 20.1%.
The increasing operating profits helped in raising the company’s financials, according to a bourse filing.
The board of directors has recommended 20% cash dividends or 20 fils per share payout and 7% bonus shares on a 7-for-100 basis.
