Kuwait – Mubasher: Aqar Real Estate Investments posted a decline of 25.6% in profits during the second quarter of 2016 as compared to the same period in 2015.
Earnings shrank to about KWD 275,550 ($912,510) in Q2-16 from nearly KWD 370,310 ($1.23 million) in Q2-15, according to a bourse statement issued on Wednesday.
Meanwhile, Aqar profits reached approximately KWD 554,410 in the first half of 2016 as compared to about KWD 876,550 in H1-15; a drop of 36.8%.
The decrease in profits was due to lower revenues from leasing properties, the statement clarified.
