Mubasher: Kuwait Financial Centre (Markaz) has suffered losses worth KWD 1.4 million ($4.68 million) in the fourth quarter of 2017 against a profit of KWD 2.65 million ($8.85 million) in the same period a year ago.

During the 2017 fiscal year, the Kuwait-based company achieved profits worth KWD 4.43 million which is 10% higher than KWD 4.03 million in the previous fiscal year, according to a bourse filing on Wednesday.

The increase in FY17 profits is attributed to a higher fair value (FV) of investments through profits and losses.

Markaz noted that its board members recommended on Tuesday a cash dividend of 7% or 7 fils per share for FY17.