Kuwait-Mubasher: Injazzat Real Estate Development registered 12% increase in earnings for the fourth quarter of 2015, and 103% surge in the fiscal year 2014/15.
The Kuwaiti company posted about KWD 274,800 profits in Q4-15, compared to nearly KWD 312,000 in Q4-14.
Meanwhile, Injazzat reported KWD 3 million net profits as compared to KWD 1.5 million.
Injazzat clarified that the rise in profits is triggered by stronger sales and also increased leasing and operating revenues.
The board of directors has recommended 5% cash dividends or 5 fils per share for FY15.
