Mubasher: Specialities Group Holding registered a positive performance during the fourth quarter and fiscal year 2018 when compared to the losses incurred in the corresponding periods a year ago.

In the fourth quarter of 2018, Specialities Group achieved a profit of KWD 661,00 ($2.18 million) against losses valued at KWD 2.73 million ($9.01 million) in the same quarter last year, according to a bourse statement on Thursday.

During FY18, the company recorded profits worth KWD 1.5 million versus a loss of KWD 3 million incurred in FY17.

The positive turn in FY18 financials is attributed to an increase in business and operating income when compared to the corresponding period a year ago, Specialities Group said.

The board members recommended not to distribute dividends for FY18.

At the stock level, Specialities Group closed Thursday’s session 0.14% higher at 71.9 fils.