Mubasher: Kuwait Finance and Investment (KFIC) incurred an increase of 573.4% in losses during the fourth quarter of 2017 compared to the same period in the previous fiscal year.

Losses enlarged to about KWD 72,790 ($243,110) in Q4-17 from nearly KWD 10,810 ($36,100) in Q4-16, according to a bourse statement on Thursday.

During the fiscal year 2017, the Kuwait-based company achieved an increase of 7.2% in profits to approximately KWD 226,690 compared to nearly KWD 211,490 in FY16.

The board members of KFIC recommended distributing no dividends for FY17.