Kuwait-Mubasher: National Industries announced a 38.2% decline in profits for the fourth quarter in 2015 as compared to Q4-14, the company said in a bourse statement.

The KSE-listed company posted profits worth about KWD 884,100 ($2.94 million) in Q4-15, compared to KWD 1.43 million ($4.75 million) in Q4-14.

National Industries has achieved profits growth of 5.8% to KWD 7.79 million ($25.894 million) in the fiscal year 2015, compared to KWD 7.36 million ($24.464 million) in FY14.

The board has recommended a distribution of 20% cash dividends or 20 fils per share, with a total value of about KWD 7 million ($23.268 million).

National Industries’ stock was last traded on Tuesday when it settled at 230 fils after about 21,100 shares were exchanged at nearly KWD 4,850 ($16,121).