Mubasher: Advanced Technology (ATC) posted a decline of 6.5% in profits during the fourth quarter of 2016, as compared to the same period of the previous year.

Earnings shrank to KWD 2 million ($6.53 million) in Q4-16 from KWD 2.14 million ($6.99 million) in Q4-15, according to a bourse statement issued on Wednesday.

During the fiscal year, profits increased by 18.6% to total KWD 5.86 million from KWD 4.94 million in FY15.

The board members recommended a cash dividend of 15% or 15 fils per share for FY16, the statement noted.