Mubasher: Al Kout Industrial Projects has reported a 90.6% year-on-year hike in net profit for the fourth quarter of 2018, recording KWD 1.29 million ($4.26 million).

The Boursa Kuwait-listed company’s net profit reached KWD 6.29 million in 2018, compared to KWD 6.22 million a year earlier, according to a bourse statement released on Wednesday.

The company’s board recommended the distribution of 50 fils per share in cash dividends.

In 2017, Al Kout’s net profit declined 9.8% to KWD 5 million versus KWD 5.5 million in the year-ago period.