Kuwait – Mubasher: Al Massaleh Real Estate achieved profits in the third quarter of 2016 against losses in the same period a year ago.
Net earnings reached about KWD 10,949 ($135,940) in Q3-16 versus losses of approximately KWD 152,269 ($499,900) in Q3-15, according to a recent bourse statement.
During the first nine months of this year, the company suffered losses of KWD 171,000 which came 80% lower from around KWD 840,854 in the corresponding period a year ago.
The reason behind the lower losses is “change in fair value of financial assets at fair value through profit or loss,” the statement added.
