Mubasher: Kuwait Investment on Monday reported a 19.8% year-on-year decline in profits for the first quarter of 2018, recording KWD 3.81 million ($12.67 million) in profits from KWD 4.75 million ($15.79 million).
Operating profits retreated 14.8% to KWD 5.36 million in Q1-18, versus KWD 6.29 million in Q1-17, according to a bourse filing.
The company’s profits soared 313.1% in 2017 to KWD 16.44 million, compared to KWD 3.98 million in 2016.
In April 2018, the ordinary general meeting (OGM) of Kuwait Investment approved the board’s recommendation to distribute 20%, or 20 fils per share of the capital as cash dividends for 2017 at a total value of KWD 11 million.
