Mubasher: Al Madina for Finance and Investment suffered losses of KWD 476,000 ($1.59 million) during the fourth quarter of 2017 against a profit worth KWD 372,000 ($1.24 million) in the same period a year ago.

Al Madina, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), registered a drop of 72.8% in profits to about KWD 381,360 during fiscal year 2017 compared to KWD 1.4 million in FY16, according to a bourse statement on Thursday.

The board members of Al Madina recommended zero dividends for FY17.