Mubasher: Injazzat Real Estate Development achieved a growth of 150% in profits during the fourth quarter of 2016.
Earnings amounted to KWD 550,000 ($1.8 million) in Q4-16, compared to KWD 220,000 ($719,700) in Q4-15, according to a bourse statement issued on Wednesday.
During the fiscal year of 2016, net profit gained 2.9% to total KWD 3.2 million from KWD 3.1 million in FY15.
The rise in profits resulted from higher leasing revenues, the statement added.
The board of Injazzat has recommended a cash dividend of 5% or 5 fils per share for FY16, with a total value of KWD 2.03 million.
