Kuwait – Mubasher: Metal and Recycling Company (MRC) turned to profitability in the fourth quarter of 2016 compared to the same period in 2015, according to the company’s financial statements.

MRC’s profits stood at KWD 187,000 ($612,870) during Q4-16 against losses of KWD 1.98 million ($6.49 million) in Q4-15, according to the results.

Annual profits reached KWD 329,000 in 2016 against losses of KWD 2.63 million in the year before.

The board of directors recommended to not distribute cash dividends for 2016, according to a company statement to Boursa Kuwait.