Mubasher: United Real Estate (URC) reported KWD 5.7 million ($18.81 million) loss during the fourth quarter of 2018.

The company’s loss surged to KWD 8.99 million last year, compared to KWD 2.22 million in the year before, according to a bourse statement released on Thursday.

Operating profit declined 57.2% year-on-year to KWD 8.99 million in 2018.

The board of directors recommended no dividends for last year.

URC's stock levelled up 2.67% to KWD 61.5 on Thursday on Boursa Kuwait.