Kuwait - Mubasher: Al Mazaya Holding on Sunday announced that its profits were almost unchanged at KWD 2.703 million ($8.944 million) in the third quarter of 2017 from KWD 2.701 million ($8.938 million) in Q3-16.
Al Mazaya’s profits rose 0.56% to reach KWD 6.875 million in the first three quarters, compared to KWD 6.837 million in the same period last year, according to the company’s financial statement.
This growth in profits resulted from an increase in the operational profits on the back of higher rental revenues, sales, and other operational profits, versus an increase in financing costs and other expenses, the statement added.
Previously, Al Mazaya had reported a slight rise in profits by 0.73% in the first half of 2017 to reach KWD 4.17 million, compared to KWD 4.14 million in the same period in 2016.
Al Mazaya’s stock closed down 1.8% at 109 fils on Sunday in Boursa Kuwait, but it did not witness any trading in Dubai Financial Market (DFM).
