Mubasher: Kuwait Financial Centre (Markaz) incurred a loss of KWD 1.86 million ($6.13 million) during the fourth quarter of 2018 compared to KWD 1.4 million ($4.61 million) in Q4-17, a year-on-year increase of 32.9%.
During fiscal year 2018, Markaz posted a decline of 48.3% in profits to KWD 2.29 million from KWD 4.43 million in the previous year.
The decrease in annual profits is attributed to lower investment income from the real estate sector, according to a bourse filing on Monday.
The board members of Markaz recommended 4% of capital as cash dividends for FY18 or 4 fils per share at a total value of KWD 1.91 million.
