Kuwait - Mubasher: The unaudited financial statement of Acico Industries showed a decline in profits by 8.3% in the fourth quarter of 2016, according to the company’s statement to Boursa Kuwait.

Net profits reached KWD 2.2 million ($7.17 million) in Q4-16 compared to KWD 2.4 million ($7.83 million) in Q4-15, the statement indicated.

The company’s profit also decreased in 2016 by 13.62% and amounted to KWD 7.24 million, compared to KWD 8.38 million in the year before.

Acico also said that it will distribute cash dividends at KWD 0.015 per share or 15% of capital, with bonus shares at 5% or KWD 0.005 per share.