Mubasher: United Projects Company for Aviation Services (UPAC) registered a decline of 21.5% in the fourth quarter of fiscal year 2018 compared to the same period last year.
Earnings decreased to KWD 2.19 million ($7.22 million) in Q4-18 from KWD 2.79 million ($9.2 million) in Q4-17, according to a bourse disclosure on Monday.
During fiscal year 2018, UPAC achieved a slight rise of 0.6% in profits to KWD 9.71 million from KWD 9.65 million in FY17.
The income statements of FY18 were backed by stability in operating revenues as well as an increase in interest.
The board members of UPAC have recommended distributing 21% of capital as cash dividends or 21 fils per share for FY18, subject to the ordinary general meeting’s (OGM) approval.
