Mubasher: Tijara and Real Estate Investment achieved a growth of 94.6% in the fourth quarter of 2017 compared to the same period in the prior year.
Earnings increased to about KWD 351,220 ($1.17 million) in Q4-17 compared to nearly KWD 180,470 ($603,000) in Q4-16, according to a bourse statement on Thursday.
During the 2017 fiscal year, the Kuwait-based company reported a drop of 12.8% in profits to approximately KWD 706,250 compared to around KWD 810,060 in the previous fiscal year.
Tijara clarified that the decrease in profits is attributed to losses from re-evaluating foreign currencies.
The board members recommended a cash dividend of 3% at a total value of KWD 1.11 million which will be matured on 20 March and will be distributed on 27 March, the statement added.
Tijara’s board called for an ordinary general meeting (OGM) on 6 March to discuss the proposed dividends.
