Mubasher: Wethaq Takaful Insurance posted a decline of 17.5% in profits to about KWD 228,460 ($746,110) during the fourth quarter of 2016 as compared to nearly KWD 276,910 ($904,340) in the same quarter a year ago.
During the fiscal year of 2016, the company achieved profits worth nearly KWD 903,910 against losses of about KWD 3,190 in FY15, according to a bourse filing issued on Thursday.
Meanwhile, operating profit shrank by 86.28% to about KWD 4,850 in FY16 from around KWD 35,360 in FY15.
Operating revenue decreased by 9.9% to KWD 4.3 million in FY16 from KWD 4.77 million in FY15.
