Doha – Mubasher: Al Khaleej Takaful Group’s profit plunged 42.1% year-on-year in the fourth quarter of 2015.

Net profit decreased in Q4-15 to QAR 11.18 million from QAR 19.3 million in the same period of 2014, according to a bourse filing released on Tuesday.

In 2015, the company’s annual profit reached QAR 43.38 million, compared to QAR 74.4 million in 2014, falling 41.7%.

Earnings per share slipped to QAR 1.7 last year, against QAR 2.91 in 2014.

The company’s board of directors proposed cash dividends at 10% of the shares par value, and invited shareholders to attend the ordinary general meeting on 21 March, 2016.

The Qatar-listed company earlier reported a net profit of 32.2 million in the first nine months of 2015, versus QAR 55.1 million in the same period of 2014.

The company’s share dropped in today’s early trading by 9.97% to QAR 26.77.