Kuwait – Mubasher: Kuwait Real Estate on Thursday announced its profits increased by 51.2% year-on-year in the second quarter of 2017.
Profits reached KWD 1.49 million ($4.93 million) in Q2-17, compared to KWD 986,000 ($3.26 million) in Q2-16, according to statements to Boursa Kuwait.
The Boursa Kuwait-listed company attributed the growth in its year-on-year net profits to the increase in rental revenues.
In the first half of 2017 profits went up 10.5% to reach KWD 3.16 million, compared to KWD 2.86 million in H1-16.
The stock, down 0.66%, closed at 60 fils on Thursday, after 775,200 shares were exchanged, generating KWD 46,400.
