Kuwait-Mubasher: Sanam Real Estate moved to profits of about KWD 16,760 ($55,790) in the fourth quarter last year against losses of around KWD 255,050 ($848,980) in Q4-14.

During the fiscal year 2015, the Kuwaiti company managed to narrow its losses by 44.2% to nearly KWD 88,000 as compared to approximately KWD 157,740 in FY14.

The Kuwait-listed company said in a bourse statement that FY15 financials improved due to sale of properties and heightened trading activity on the stock.

The board has recommended withholding dividends for the fiscal year 2015.