Kuwait - Mubasher: The financial results of Al Enmaa Real Estate Company showed losses of KWD 9.37 million ($30.54 million) in the fourth quarter of the year against profits of SAR 777,320 ($2.53 million) in Q4-15.
The company also reported turning to losses in the fiscal year that ended on 31 October 2016, recording losses of KWD 8.9 million versus profits of KWD 4.4 million in the year before.
Operational revenues declined by 41.8% to KWD 26.4 million from KWD 45.31 million in the same period last year, according to the company’s statement.
The board of the company has recommended not to distribute cash dividends for this year.
