Salhia Real Estate FY18 profits grow 9%; dividends proposed

Salhia Real Estate FY18 profits grow 9%; dividends proposed
Salhia Real Estate closed Tuesday’s session at 332 fils
SRE
SRE
-1.21% 326.00 -4.00

Mubasher: Salhia Real Estate achieved an increase of 9.4% in earnings during fiscal year 2018 compared to the prior year.

Profits rose to KWD 17.31 million in FY18 from KWD 15.82 million in FY17, according to a bourse statement on Tuesday.

During the fourth quarter of 2018, profits plunged by 34.3% to KWD 3.16 million ($10.42 million) compared to KWD 15.82 million in the corresponding period last year.

The board members of Salhia Real Estate recommended 20% of capital as cash dividends for FY18 or 20 fils per share to the entitled shareholders.

At the stock level, Salhia Real Estate closed Tuesday’s session at 332 fils.