Global Investment House (GIH) has managed to reduce its losses as it straightens out its balance sheet - but there is still no dividend in sight for investors.
The financial services company, based in Kuwait, yesterday reported a net loss of 73.2 million dinars for last year, nearly 51 per cent less than the 148.8m dinar loss reported for the previous year. GIH attributed the improvement mostly to profit from its US$5.1 billion asset management business.
But the company' board suspended a dividend payout for the third consecutive year.
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