Mubasher: Soor Fuel Marketing posted a drop of 8.6% in profits during the fourth quarter of fiscal year 2017 compared to the same period a year ago.
Earnings declined to about KWD 539,800 ($1.80 million) in Q4-17 from around KWD 590,800 ($1.97 million) in Q4-16, according to a bourse statement on Wednesday.
During fiscal year 2017, Soor Fuel registered an incline of 1.7% in profits to KWD 3.46 million from KWD 3.40 million profits in FY16; the increase in FY17 profits is attributed to higher sales.
The board members of Soor Fuel recommended a cash dividend of 5% or 5 fils per share for FY17.
At the stock level, Soor Fuel closed Wednesday’s session at 114 fils.