Kuwait-Mubasher: Kuwait Business Town Real Estate achieved an increase of 67.4% in profits for the first quarter as compared to the same period in 2015, the company said in a bourse statement issued Wednesday.
The earnings grew to approximately KWD 403,700 ($1.34 million) in Q1-16, up from nearly KWD 241,200 ($799,360) in Q1-15.
The growth in Q1 profits resulted from 12.5% higher revenues of renting properties, as well as selling available for sale investment.
Business Town stock reached 43.5 fils, after an hour and a half from starting Wednesday’s session, as 2.87 million shares were exchanged with a value of nearly KWD 125,280.
