Mubasher: Al Mazaya Holding registered a decline of 29.3% in profits during the first quarter of 2018 compared to the same period in the previous fiscal year.
Earnings decreased to KWD 1.35 million ($4.48 million) in Q1-18 from KWD 1.91 million ($6.35 million) in Q1-17, according to a bourse statement on Sunday.
Al Mazaya, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that the drop in Q1 financials is attributed to delivering a higher number of real estate units in the first quarter of 2017 when compared to the units delivered in Q1-18.
