Kuwait- Mubasher: The financial statements of Al Kout Industrial Procjects showed a drop by 21.6% in its profits in the fourth quarter of 2016 compared to the same period of 2015.

Al Kout’s profits in Q4-16 were KWD 1.6 million ($4.59million), compared to KWD 2.04 million ($6.69million) in Q4-15, according to the company’s financial results.

The company’s profits in 2016 reached KWD 5.84 million, compared to KWD 5.3 million in 2015 showing a rise of 10.2%.

The company’s board recommended the distribution of cash dividends representing 50% of the nominal value, or 50 fils per share, for the fiscal year 2016.