Mubasher: Commercial Facilities posted a drop of 46% in profits during the fourth quarter of 2017 compared to the same period a year ago.
Earnings plunged to KWD 1.42 million ($4.74 million) in Q4-17 from KWD 2.63 million ($8.79 million) in Q4-16, according to a bourse filing on Wednesday.
During the 2017 fiscal year, Commercial Facilities achieved a growth of 7.8% in profits to KWD 8.72 million compared to KWD 8.09 million in the previous fiscal year.
The increase in FY17 profits is attributed to higher operating and investment profits, the statement added.
The board members recommended a cash dividend of 16% or 16 fils per share for fiscal year 2017.
Commercial Facilities clarified that the dividends will be matured on 17 April and distributed to shareholders of records on 11 April.
