Mubasher: Ajial Real Estate Entertainment achieved a growth of 95.7% in profits during the third quarter of 2017 compared to the same period last year.

Earnings increased to KWD 1.73 million ($5.74 million) in Q3-17 from KWD 884,000 ($2.93 million) in Q3-16, according to a bourse statement issued on Tuesday.

During the first nine months of 2017, Ajial reported a growth of 44.1% in profits to KWD 3.43 million compared to KWD 2.38 million in the corresponding period in 2016.

The increase in profits is attributed to selling available-for-sale assets valued at KWD 2.17 million, as well as a growth in the company’s share of KWD 2.16 million in profits of an associate.

It is worth noting that Ajial registered a rise of 13.3% in profits to KWD 1.7 million in the first half of 2017 compared to KWD 1.5 million in the same period a year ago.