Mubasher: Sanam Real Estate reported a decrease of 54.8% in losses during the fourth quarter of 2018 from the same period a year ago.

Losses shrank to about KWD 352,830 ($1.16 million) in Q4-18 from nearly KWD 780,420 ($2.57 million) in Q4-17, according to a bourse statement on Monday.

During fiscal year 2018, Sanam registered a drop of 53% to approximately KWD 410,730 compared to nearly KWD 872,420 in FY17.

The board members have recommended withholding dividends distribution for fiscal year ended on 31 December 2018.

At the stock level, Sanam Real Estate closed Monday’s session 15.07% lower at 31 fils.