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Al Khaleej Takaful suffers losses in Q4

Al Khaleej Takaful suffers losses in Q4
Al Khaleej Takaful's EPS reached QAR 0.52 in 2016 (Photo credit :Arabianeye - Reuters)
Al Khaleej Takaful
AKHI
-0.20% 2.50 -0.01

Doha – Mubasher: Al Khaleej Takaful Group swung to losses in the fourth quarter of 2016, according to a bourse filing.

The company incurred losses of QAR 5.31 million ($1.46 million) in Q4-16, compared to profits of QAR 11.19 million ($3.1 million) in Q4-15.

In 2016, profits fell 69.37% to QAR 13.29 million from QAR 43.39 million in 2015.

Earnings per share (EPS) reached QAR 0.52 in 2016, compared to QAR 1.7 a year earlier.

The company board recommended 6% cash dividends or QAR 0.6 per share for fiscal year 2016.

The company’s stock fell 7.56% to QAR 18.95 in Wednesday's mid-session, generating QAR 370,650 from the exchange of 19,690 shares.