Kuwait-Mubasher: The financial statements of Shuaiba Industrial showed an increase of 4.5% in profits for the fourth quarter in 2015, according to a bourse filing.
The Kuwaiti company has achieved earnings worth about KWD 374,000 ($1.25 million) in Q4-15, compared to nearly KWD 358,000 ($1.19 million) in Q4-14.
During the fiscal year 2015, Shuaiba posted KWD 1.71 million profits, 21.3% higher from KWD 1.41 million in 2014.
Shuaiba added that the growth in earnings was due to an increase in the company’s operating revenues.
The board has recommended distribution of 20% cash dividends as well as 25% bonus shares, which will be subject to the shareholders’ approval.
