Mubasher: Al Mazaya Holding reported a decrease of 28.4% in profits during the third quarter of 2018 compared to the same period in 2017.
Earnings shrank to KWD 1.92 million ($6.35 million) from KWD 2.68 million ($8.84 million) in Q3-17, according to a bourse filing on Wednesday.
During the nine-month period in 2018, profits declined by 29.9% to KWD 4.82 million from KWD 6.88 million in the corresponding period a year ago.
Al Mazaya, listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that the decrease in profits is attributed to delivering a larger number of real estate units in 9M-17 compared to 9M-18.
