Kuwait-Mubasher: United Real Estate's profits retreated 32.7% to KWD 1.05 million ($3.48 million) in the second quarter of 2016 from KWD 1.56 million ($5.17 million) in Q2-15.
The company's net profits also fell 17.8% to KWD 3 million in the six-month period of 2016 from KWD 3.65 million in the year-ago period, according to a bourse filing on Thursday.
The decrease in net profits was attributed to lower profits of associate companies, despite higher revenues and operating profits.
