Kuwait – Mubasher: Aayan Real Estate posted a growth of 8.1% year-on-year in profits during the fourth quarter of 2016.
Earnings reached KWD 1.74 million ($5.68 million) in Q4-16, compared to KWD 1.61 million ($5.26 million) in Q4-15.
During the twelve months of 2016, profits amounted to KWD 2.75 million, 1.5% higher than KWD 2.71 million in the year-ago period.
The increase in net profits is in line with the company's performance, according to a bourse statement on Thursday.
Aayan’s board recommended on Wednesday distributing 6.5% cash dividends for 2016 at 6.5 fils per share.
The company's capital amounts to KWD 41.56 million, distributed over 415.64 million shares at 100 fils per share.
