Kuwait-Mubasher: United Real Estate reported 6.7% increase in profits to KWD 3.66 million ($12.24 million) for the fourth quarter in 2015, compared to KWD 3.43 million ($11.47 million) in the same quarter of 2014.
The Kuwaiti company said in a bourse statement that it made profits worth KWD 8.53 million during the fiscal year 2015, 8.3% higher from KWD 7.88 million in 2014.
The board has recommended distribution of 5% cash dividends or 5 fils per share payout for FY15, subject to the approval of the company’s shareholders.
The stock settled at 94 fils the mid-session on Tuesday, after about 534,800 shares were exchanged through 16 transactions, with a value of about KWD 49,400.
