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UPAC profits decline 15.8% in FY14

UPAC profits decline 15.8% in FY14
Photo Credit: Arabianeye-Reuters
UPAC
UPAC
-2.82% 172.00 -5.00

United Projects Company for Aviation Services (UPAC) registered a drop of 15.8% in its earnings for the fiscal year of 2014.

Kuwait’s UPAC posted earnings worth KWD 5.66 million ($21.88 million) in 2014, compared to KWD 6.72 million ($22.41 million) in 2013.

The firm’s profits in Q4-2014 totaled KWD 1.41 million against KWD 1.5 million in Q4-2013, declining by 5.5%.

The board of directors recommended a cash dividend of 72% or 72 fils per share for the fiscal year of 2014.

UPAC’s capital stands at KWD 8.25 million, distributed on 82.50 million shares with a par value of 100 fils per share.