Mubasher: Kuwait-based Commercial Facilities on Thursday reported a 92.3% year-on-year hike in profits during the fourth quarter of 2018.
The company’s profits amounted to KWD 2.73 million ($9 million) in Q4-18, up from KWD 1.42 million during Q4-17, according to a statement to Boursa Kuwait.
From January to December 2018, the firm’s profits levelled up 13.9% to KWD 9.93 million, compared to KWD 8.72 million a year earlier.
The rise in 2018 profits was attributed to a growth in operating and investments revenues.
On Wednesday, Commercial Facilities’ board of directors recommended distributing 17 fils per share as cash dividends for the full fiscal year 2018.
Boursa Kuwait resumed trading on the firm’s stock as of Thursday following the announcement of 2018 financial statements.
