Mubasher: National International Holding achieved a profit of KWD 136,000 ($454,000) in the fourth quarter of the fiscal year 2017 against losses worth KWD 338,000 ($1.13 million) in the same period a year ago.

During FY17, National International reported a drop of 45.4% in profits to KWD 1.37 million compared to KWD 2.51 million in the previous fiscal year, according to a bourse statement on Wednesday.

National International, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that the decrease in FY17 profits is attributed to a fall of nearly KWD 991,820 investment income, in addition to a change in the investment real estate fair value by about KWD 142,690.

The board members recommended a cash dividend of 5% or 5 fils per share for FY17.