Mubasher: Tamdeen Investment achieved higher profits by 11% in 2019 at KWD 8.24 million ($27.04 million) when compared to KWD 7.39 million ($24.25 million) in 2018.

The growing annual profits are attributed to higher gains from investments as well as a higher share in results of associates, according to a bourse filing on Monday.   

In the fourth quarter (Q4) of last year, Tamdeen’s losses leaped by 421% to reach KWD 2.34 million, compared to KWD 449,725 in the corresponding quarter in 2018.  

During its meeting, the board of directors proposed a cash dividend distribution of 12 fils per share for 2019, representing 12% of the share’s nominal value.

It is worth remarking that in the first nine months of 2019, the Boursa Kuwait-listed company’s profit grew by 35% annually to KWD 10.58 million from KWD 7.84 million.