Mubasher: Al Khaleej Takaful Group on Thursday reported a 62.4% year-on-year drop in its losses for the fourth quarter of 2017.

The company’s loss declined to QAR 2.03 million ($560,100) in Q4-17 from QAR 5.4 million ($1.5 million) in the same period a year earlier, according to a filing to the Qatar Stock Exchange (QSE).

For the full-year 2017, profits increased 10.6% to QAR 14.6 million compared to QAR 13.2 million in the prior year.

Earnings Per Share (EPS) amounted to QAR 0.58 for the year ended 31 December 2017, versus QAR 0.52 for the same period the previous year.

 Al Khaleej Takaful’s board recommended a distribution of 5% of the share nominal value in cash dividends, equaling 50 Dorham per share.