Mubasher: Salam International Investment Limited (SIIS) reported a 27.4% year-on-year loss decline in the fourth quarter of 2018.

The Qatar-based firm’s losses amounted to QAR 70.41 million ($19.4 million) in the last three months of 2018, from QAR 96.96 million ($26.7 million) in the year-ago period, according to the company’s statement to the Qatar Stock Exchange (QSE) on Thursday.

For the full-year 2018, SIIS’ losses declined 1.3% to QAR 99.4 million, against QAR 100.7 million in 2017.

Loss per share (LPS) registered QAR 0.87 for the fiscal year ended 31 December 2018, versus QAR 0.88 in the prior-year period.

SIIS’ board of directors did not recommend cash dividend distribution due to the incurred losses, the statement added.

During the January-September period of 2018, the logistics company’s losses leapt 671.01% to QAR 28.9 million, against QAR 3.8 million in the corresponding period a year earlier.

SIIS’ stock fell 4.22% to close at QAR 4.40 on Thursday.