Kuwait-Mubasher: The Commercial Real Estate (Al-Tijaria) achieved a 76% growth in profits for the first quarter as compared to the same period in 2015, the company said in a bourse statement.
Earnings reached KWD 3.36 million ($11.14 million) in Q1-16, compared to KWD 1.91 million ($6.35 million) in Q1-15.
Shareholders’ equity as well as assets increased by 5.4% and 20.3% respectively.
Return on shareholders’ equity rose by 67.3%, while the gross return and capital return grew 80.5% and 68% respectively.
Operating profits levelled up 18.7% in Q1-16, backed by revenues from property leasing contracts.
Al-Tijaria rose 1.32% to 77 fils, a few minutes before closing Tuesday’s session, as about 309,250 shares were traded for around KWD 23,510.
