Mubasher: Refrigeration Industries and Storage Co suffered losses of KWD 720,000 ($2.4 million) during the fourth quarter of 2016 versus KWD 580,000 ($1.9 million) worth profit in the same period a year ago.

During the fiscal year of 2016, earnings totaled KWD 3.93 million which was 4.3% higher from KWD 3.8 million in FY, according to a bourse filing issued on Thursday.

The board has recommended 25% cash dividend or 25 ils per share, with a total of KWD 2.03 million.