Kuwait – Mubasher: United Real Estate reported a decline of 40.5% in profits to KWD 1.16 million ($3.79 million) during the first quarter of 2017, compared to KWD 1.95 million ($6.37 million) in the same period a year ago.
The drop in Q1 profits is attributed to lower yield from foreign currency exchange, as well as higher interest rates, according to a bourse statement issued on Sunday.
