Good performance within a deteriorating GCC contracting market.
Combined Group posted a 3.16% improvement in Q4 2015 revenues, totaling to KWD68m (up from KWD65.9m during Q4 2014). However, Q4 2015 net income witnessed a drop of 13.3% to KWD1.39m due to a significant decline of 33.8% in the operating profit to KWD2.5m.FY consolidated sales, increased by 26.6% KWD251.2m. The EBIT grew by 8.9% to KWD13.9m. However, the annual net income has fallen by almost 20.8% to KWD4.08m.
AlphaMena is the MENA stocks leader in independent equity research, covering 142. MENA securities spanning across 19 sectors and 8 countries relaying on a team of 11 analysts. The breadth of coverage allows AlphaMena to formulate a coherent view on markets, sectors and to highlight the best investments in Mena zone using a robust homogeneous and transparent methodology, enabling pure and pertinent comparisons based on financial and extra-financial criteria.
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