Mubasher: Tamdeen Investment suffered losses of KWD 2.51 million ($8.2 million) during the fourth quarter of 2016 against a profit of KWD 920,000 ($3 million) in the same period a year ago.
During the fiscal year, profits shrank by 42% to total KWD 6.69 million from KWD 11.52 million in FY15, according to a bourse statement issued on Wednesday.
The decline in FY16 profits resulted from lower net investment income during the fiscal year, the statement noted.
