Kuwait-Mubasher: The financial statements of Kuwait Foundry showed a negative turn in the fourth quarter of 2015, with losses worth about KWD 637,160 ($2.11 million) against profits worth around KWD 155,910 ($517,180) in the corresponding quarter of 2014.

According to a bourse filing, Kuwait Foundry also registered losses worth KWD 2.95 million during the fiscal year of 2015, against earnings worth KWD 2.42 million in the fiscal year 2014.

The board of directors has recommended a distribution of 10% cash dividends or 10 fils per share.