Kuwait – Mubasher: Effect Real Estate turned into profits during the second quarter of 2016, according to a bourse filing.
Net profit reached KWD 1,615 ($5,340) in the second quarter against KWD 827 losses for the year-ago period.
Over the first half, net profit rose by 541.3% year-on-year to KWD 11,000 from KWD 1,720.
In the first quarter, the company earned KWD 9,435 compared with KWD 2,550 for the first quartr of 2015.
