Mubasher: Aqar Real Estate Investments reported a decline of 14.7% in profits during the fourth quarter of 2017 compared to the same period last year.

Earnings decreased to KWD 732,000 ($2.45 million) in Q4-17 from KWD 858,000 ($2.87 million) in Q4-16, according to a bourse filing on Tuesday.

During fiscal year 2017, Aqar registered a slight rise of 1.1% in profits to KWD 1.76 million compared to KWD 1.78 million in FY16.

The board of directors recommended 6% of par value or 6 fils per share as cash dividends for FY17.