Mubasher: The financial statements of Tamdeen Real Estate Company showed a 144.2% year-on-year increase in net profit during the second quarter of 2019, recording KWD 1.143 million ($3.77 million).
In the first six months of 2019, Tamdeen’s profit reached KWD 6.62 million, compared to KWD 4.65 million in the year-ago period, according to a bourse statement.
The company ascribed the increase in its profit to the increase in net operating income and investment revenue.
The Boursa Kuwait-listed developer reported a 20.3% year-on-year hike in profits during the first quarter of 2019, registering KWD 5.02 million ($16.55 million).
