Mubasher: Seef Properties achieved a growth of 28.6% in profits during the fourth quarter of 2016 as compared to the same period in 2015, according to a bourse filing issued on Wednesday.

Earnings increased to BHD 3.91 million ($10.3 million) in Q4-16 from BHD 3.04 million ($8.01 million) in Q4-15.

During fiscal year 2016, profits rose by 12.2% to total BHD 11.04 million from BHD 9.84 million in FY15, the statement said.

Earnings per share grew by 11.4% to 23.82 fils in FY16 from 21.39 fils in FY15.

Board members recommended 14% cash dividend or 14 fils per share for FY16, with a total value of BHD 6.44 million.