Al Mehanya for Real Estate Investments and Housing Co announced its financial results to the Amman Stock Exchange (ASE).

The Company turned to profit, achieving JOD 892.03 THD ($1.25 million) during the nine-month period, ending September 30, 2014, compared to a loss of JOD 304.9 THD ($429.4 THD) in the corresponding period of 2013.

According to the financials, Al Mehanya’s total revenues surged 1023.05% to JOD 893.3 THD in the first nine months of 2014, compared to JOD 79.54 THD during the same period a year earlier.

Furthermore, the Company’s profit reached JOD 283.9 THD in the third quarter of 2014, against a loss of JOD 209.3 THD in the corresponding period of 2013.

Worth noting, the net profit after taxes grew to JOD 608,000 during the first half of 2014, compared to a loss of JOD 95,000 THD during the same period of 2013.

Al Mehanya for Real Estate Investments and Housing Co. operates within the real estate sector focusing on diversified real estate activities. Its capital amounts to JOD 44 million, distributed on 44 million shares at JOD 1 par value each.