Palms Agro Production Company recorded a plunge of 25.9% in its earnings of the fiscal year 2014, as it posted a net profit of around KWD 470,000 ($1.57 million) in 2014 compared to nearly KWD 634,60 ($2.11 million) in 2013.
The board of directors recommended a cash dividend of 10% (10 fils a share) for the fiscal year ended 31 December, 2014.
The firm’s earnings totaled about KWD 104,680 in Q4-2014, compared to around KWD 181,560 in Q4-2013.
Palms Agro records a capital of KWD 5.23 million, distributed on 52.39 million shares with a par value of 100 fils per share.
