Mubasher: Arabi Group Holdings on Monday reported a 519.8% year-on-year jump in profits during the fourth quarter of 2018.
The group’s profits reached KWD 880,990 ($2.9 million) in Q4-18, compared to KWD 142,130 ($468,190) during Q4-17, according to a bourse filing.
Arabi Group Holdings turned a profit after logging KWD 428,030 last year, against a loss of KWD 244,550 in 2017.
The firm ascribed the positive turn in 2018 financials to a growth in revenues and operating revenues.
Operating profits levelled up 31.4% to KWD 11.63 million from January to December 2018, compared to KWD 8.85 million in 2017.
Arabi Group Holdings’s board of directors recommended not to distribute cash dividends for the full fiscal year 2018.
