Mubasher: National Consumer Holding Company on Monday announced turning to profits during the fourth quarter of 2018, against losses incurred in the year-ago period.

National Consumer’s profits amounted to about KWD 25,030 ($82,600) in Q4-18, against nearly KWD 56,540 ($186,600) losses during Q4-17, according to a statement to Boursa Kuwait.

The company also turned profitable in 2018 after generating KWD 26,270 earnings, against KWD 7,290 losses during 2019.

National Consumer Holding attributed turning to profits in 2018 to an increase of KWD 269,700 in investment income.

during its meeting on Sunday, the firm’s board recommended not to distribute cash dividends for the fiscal year 2018.