Mubasher: Osoul Investment on Wednesday posted a 33.1% year-on-year increase in its losses during the fourth quarter in 2018.
The company’s losses reached KWD 189,000 in Q4-18, up from KWD 142,000 ($468,800) during Q4-17, according to a bourse filing.
During the full-year 2018, Osoul Investment’s profits slumped 30.4% to KWD 702,670, compared to KWD 1.01 million in 2017.
The firm attributed the 2018 profit drop to a decrease in the revenues of provision settlement, coupled with a decline in revenues of murabaha and deposits in financial institutions.
On Tuesday, the board recommended not to distribute cash dividends for the previous year and reduce capital.
