Kuwait – Mubasher: National Ranges Co. (Mayadeen) posted a 88.8% decline in net loss for the fourth quarter of 2015 to KWD 620,100 ($2.06 million), compared with KWD 5.53 million ($18.37 million) in the prior-year period.

The company’s FY15 net loss amounted to KWD 2.97 million, down 61.2% year-on-year from KWD 7.65 million, according to a bourse filing posted Monday.

Mayadeen’s board of directors recommended Sunday withholding dividends for FY15, pending the approval of shareholders and competent authorities.