Kuwait – Mubasher: Aqar Real Estate Investments on Wednesday announced a 27% year-on-year rise in profits in the second quarter of 2017, bolstered by the increase of rent revenues, according to a bourse statement.
The Kuwaiti-listed company achieved profits of KWD 350,410 ($1.15 million) in Q2-17, up from KWD 275,550 ($906,870) in Q2-16.
The company’s revenues hiked to 23.4% KWD 687,320 in the first half of 2017, compared to KWD 554,410 in H1-16.
Operating revenues rose 21.6% in H1-17 reaching KWD 987,070, compared to KWD 811,950 in the corresponding period of 2016.
Aqar’s total revenues levelled up 19.7% in H1-17 reaching KWD 333,910 up from KWD 278,860 in H1-16.
By the end of Wednesday’s trading, Aqar Real Estate’s stock declined 6.34% to the price of 63 fils, achieving KWD 26,060 in liquidity at a trading volume of 420,000 shares.
