By: Mohamad Farouk
Mubasher: The income statements of 60 companies listed on Boursa Kuwait reported a decrease of 4.9% in profits during the fourth quarter of 2017 compared to the same quarter in 2016.
Earnings of the total 60 firms declined to KWD 398.22 million ($1.33 billion) in Q4-17 from KWD 418.79 million ($1.4 billion) in Q4-16, according to data collected by Mubasher.info.
During fiscal year 2017, the 60 listed companies achieved a growth of 9.9% in profits to KWD 1.65 billion compared to KWD 1.5 billion in the prior fiscal year.
The National Bank of Kuwait (NBK) recorded the highest profits among the companies that have disclosed their financials; the bank registered profits worth KWD 84 million in Q4-17 and KWD 322.36 million in FY17.
Kuwait Finance House (KFH) followed the NBK, with profits reaching KWD 46.29 million in Q4-17. The bank posted KWD 187.65 million profits in FY17.
Meanwhile, International Financial Advisors (IFA) posted the highest losses of KWD 4.15 million in Q4-17, followed by Munshaat and Aan with a loss of KWD 3.83 million each.
On the FY17 level, Aan registered the highest annual losses of KWD 5.38 million, followed by IFA with KWD 2.69 million.
Regarding cash dividends and bonus shares, Human Soft distributed the highest cash dividend and bonus share of 160% and 70%, respectively.
Tijara and Real Estate Investment, as well as Kuwait Business Town Real Estate, distributed the lowest cash dividend of 3% each.
Meanwhile, 16 companies did not distribute cash dividends for FY17.
