Kuwait-Mubasher: First Dubai for Real Estate Development posted a plunge of 51% in earnings for the fourth quarter in 2015 as compared to the corresponding period of 2014.
The company noted in a bourse statement that Q4 profits stood at about KWD 826,300 as compared to KWD 1.68 million in Q4-14.
The Kuwaiti company registered net profit worth about KWD 2 million in FY15, down 43% from KWD 3.5 million in FY14.
First Dubai said that the decrease in profits is owed to a KWD 908,713 higher finance cost and KWD 1.8 million lower income.
