Kuwait-Mubasher: Ekttitab Holding suffered losses worth KWD 3.14 million ($10.43 million) in the fourth quarter of 2015, 59.4% higher from KWD 1.97 million ($6.54 million) in Q4-14, according to a recent statement.

The company, which is listed in both Kuwait and Dubai, posted losses worth KWD 3.4 million ($11.31 million) during the fiscal year 2015, compared to KWD 2.57 million ($8.55 million) in FY14, an increase of 32.3%.

Ekttitab clarified that its poorer performance was driven by KWD 3.35 million ($11.14 million) losses in investments last year.

The board has recommended on 17 March freezing dividends for the fiscal year 2015, the same proposal in FY14.

Ekttitab’s stock in Kuwait fell 3.33% two hours after Sunday’s session started, while it rose by 1.35% in DFM.