Mubasher: The Energy House Holding registered a decline of 98.8% in losses during the fourth quarter of 2018, compared to the same period last year.

Losses shrank to KWD 14,030 ($46,280) in Q4-18 from KWD 1.17 million ($3.86 million), according to a bourse statement on Tuesday.

During fiscal year 2018, the company achieved a profit of nearly KWD 80,170 against losses of KWD 5.04 million in the prior year.

The positive turn in FY18 financials is attributed to profits from differences in currency exchange of KWD 2.67 million.

The board members have recommended not to distribute dividends for FY18.

At the stock level, Energy House closed Tuesday’s session 6.85% lower at 34 fils.