Mubasher: Kuwait Real Estate registered an increase of 33.1% in profits during the first quarter of 2018 compared to the same period in the prior year.

Earnings enlarged to KWD 2.21 million ($7.34 million) in Q1-18 from KWD 1.66 million ($5.51 million) in Q1-17, according to a bourse filing on Wednesday.

The rise in Q1 profits is attributed to repaying provisions of lawsuits, despite the increase in the company’s financing costs.