Mubasher: The Commercial Real Estate (Al Tijaria) reported a decline of 12% in profits during the second quarter of 2018 compared to the same period last year.
Earnings decreased to KWD 3.39 million ($11.22 million) in Q2-18 from KWD 3.85 million ($12.74 million) in Q2-17, according to a bourse statement on Tuesday.
During the first six months of 2018, Al Tijaria registered a drop of 8.1% in profits to KWD 7.15 million in H1-17.
Al Tijaria clarified that the decrease in earnings is attributed to lower income from selling land plots and properties for leasing, in addition to a decline in investment income and higher financing costs.
