Mubasher: Bayan Investment reported a decline of 88.8% in losses during the fourth quarter of 2017 compared to the same period in the prior year.
Losses decreased to about KWD 36,380 ($121,820) in Q4-17 from approximately KWD 323,730 ($1.08 million) in Q4-16, according to a bourse statement on Monday.
During fiscal year 2017, Bayan achieved a profit of nearly KWD 33,420 against losses worth around KWD 597,130 in FY16.
The positive turn in Bayan’s FY17 financials is attributed to higher net income from investments.
The board members recommended zero dividends and bonus for FY17.
At the stock level, Bayan started Monday’s session 0.48% higher at 41.9 fils by 9:37am Kuwait time.
