Mubasher: Yiaco Medical suffered losses of KWD 642,000 ($2.14 million) during the fourth quarter of 2017 against a profit of KWD 2.8 million ($9.35 million) in the same quarter in 2016.
During fiscal year 2017, the company incurred a loss of KWD 9.59 million versus profits worth nearly KWD 395,760 in the prior fiscal year, according to a bourse statement on Tuesday.
Yiaco noted that the negative turn in FY17 financials is attributed to lower sales value in addition to calculating required provisions.
The board members have recommended zero dividends for FY17.
