Kuwait – Mubasher: Real Estate Asset Management (REAM) on Monday reported achieving a profit increase by 47% in the first three months of 2017 compared to the year-ago period.
The Kuwaiti firm logged KWD 244,370 ($800,690) in profits in Q1-17, up from KWD 166,190 ($544,530) in the corresponding period of 2016, according to a filing to Boursa Kuwait.
The Kuwaiti asset management firm said its profit growth came on the back of profits from the sale of available-for-sale investments, as well as revenues resulting from lower financing costs, according to the statement.
REAM had previously posted KWD 790,800 in profits for the full year 2016, down 12.4% from KWD 902,960 in 2015.
