Monday, Apr 08, 2013
BEIRUT (Zawya Dow Jones)--Kuwait's Global Investment House (GLOBAL.KW) said its full-year loss slightly narrowed to 55 million Kuwaiti dinars ($192.8 million) in 2012 from a loss of KWD57.51 million in the previous year.
Fourth-quarter loss, however, has substantially widened to KWD19.54 million from a loss of KWD3.28 million in the same quarter of 2011, according to Zawya Dow Jones calculations based on Zawya.com data.
The troubled investment firm said in a statement posted on the Kuwait bourse website on Monday that its total assets fell 12% to KWD497.9 million at the end of 2012 from KWD563.8 million a year earlier.
Global, which plans to voluntarily delist its shares from the Kuwait Stock Exchange, said in the statement that its board has proposed that no dividend be paid for 2012.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
08-04-13 1403GMT
