Mubasher: Qatar Electricity and Water Co (QEWS) reported a decline of 1.2% in profits during the fourth quarter of 2017 compared to the same period a year ago.

Earnings shrank to QAR 304.79 million ($83.73 million) in Q4-17 compared to QAR 308.41 million ($84.72 million) in Q4-16, according to a bourse filing on Thursday.

During fiscal year 2017, profits grew by 4.8% to QAR 1.61 billion compared to QAR 1.54 billion in the previous year.

Earnings per share stood at QAR 14.69 in FY17 compared to QAR 14.02 in FY16, the filing added.

QEWS’ board members recommended 77.5% cash dividends for FY17.