Mubasher: Securities House on Monday incurred losses in the fourth quarter of 2018, against posting profits during Q4-17.

The company’s losses reached KWD 1,500 ($5,000) by the end of Q4-18, against nearly KWD 593,230 ($2 million) earnings in Q4-17, according to a bourse statement.

Securities House’s annual profits skyrocketed 825.5% to approximately KWD 204,810 from January to December 2018, compared to around KWD 22,130 in the corresponding months a year earlier.

The Boursa Kuwait-listed firm attributed the large growth in annual earnings to a number of factors, including income from assets at fair value.

During its meeting on Sunday, Securities House’s board recommended not to distribute cash dividends for 2018.