Earnings growth, "agility", quarterly 23% 19.3 million dinars


Earnings growth, "agility", quarterly 23% 19.3 million dinars
The company announced the "agility" of the financial results for the year ended December 31, 2017 Detective net profit worth 68.5 million Kuwaiti dinars, equivalent to 54.4 fils per share, an increase of 16% compared to the financial results for the year 2016.
The company generated net revenues of 1,407 million Kuwaiti dinars, earnings before interest, taxes, depreciation and amortization 135.2 million Kuwaiti dinars.
As for the results of the fourth quarter of the year, net profit of 19.3 million dinars increased by 15.3 fils per share, an increase of 22.5% from the same period of 2016.
While profit before interest, taxes, depreciation and amortization 37.6 million Kuwaiti dinars in the fourth quarter of 2017, an increase of 19.8%.

The recommendations of the board of directors

This has been recommended to the board of directors to distribute cash dividend of 15 percent (15 fils per share) and bonus shares of 15% (15 shares for every 100 shares), this recommendation is subject to the approval of the General Assembly of the shareholders of the company.

The most important achievements

- Profit before interest, taxes, depreciation and amortization increased by 17.4% as a result of the strong performance of the group companies infrastructure.
- The growth of net earnings and earnings per share increased by 16% and 16.6% according to the ranking.
- Healthy growth in operating cash flow, the growth is limited in free cash flow due to investments to grow the business.
- The distribution of profits takes into account the aspirations of the shareholders without impeding the growth of the business.
- Increase in borrowing to finance projects the company's future resulting in a net debt worth 93.2 million Kuwaiti dinars.
- Settlement of the judicial dispute with the US Department of Justice.

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