Mubasher: Advanced Technology (ATC) achieved an increase of 39.5% in profits during the fourth quarter of 2017 compared to the same period in the previous year.

Earnings grew to KWD 2.79 million ($9.32 million) in Q4-17 compared to KWD 2 million ($6.68 million) in Q4-16, according to a bourse statement on Sunday.

During FY17, the Boursa Kuwait-listed company achieved a rise of 39.3% in profits to KWD 8.16 million compared to KWD 5.86 million in the previous fiscal year.

The board members of ATC recommended distributing 20% of par value or 20 fils per share as cash dividends for fiscal year 2017.