Mubasher: Mubarrad Holding Co has incurred a loss of KWD 542,000 ($1.81 million) in the fourth quarter of 2017 against a profit of nearly KWD 354,000 ($1.18 million) in the corresponding period in 2016.
During the fiscal year 2017, the Kuwait-based firm achieved an increase of 44.9% in profits to KWD 1.84 million compared to KWD 1.27 million in FY16, according to a bourse statement on Thursday.
The growth in FY17 profits is attributed to a profit from selling an investment in an associate.
Mubarrad’s board members recommended a cash dividend of 5% or 5 fils per share for FY17.
At the stock level, Mubarrad closed Thursday’s session 0.55% higher at 73.1 fils.
