Kuwait – Mubasher: Salhia Real Estate reported a growth of 21.4% in profits during the third quarter of 2016 as compared to the same quarter a year ago.
Earnings amounted to KWD 2.38 million ($7.85 million) in Q3-16 from KWD 1.96 million ($6.47 million) in Q3-15, according to a bourse statement issued Wednesday.
In the first nine months of 2016, profits amounted to KWD 8.06 million, 10.8% down from KWD 9.04 million in the corresponding period a year ago.
Salhia clarified that the drop in profits resulted from “reversal of impairment loss of investment properties”, the statement said.
