Mubasher: Al Enmaa Real Estate Company reported a decrease in profits by 71% in the first quarter (Q1) ended on 31 January 2020 due to lower operating profit.

The profits for the period registered KWD 281,208 ($914,800), compared to KWD 967,818 ($3.15 million) in the same period a year earlier, according to a bourse disclosure on Monday.

It is worth mentioning that in the fiscal year (FY) ended on 31 October 2019, the Kuwaiti firm achieved annual profits of KWD 1.704 million ($5.63 million), against losses of KWD 1.091 million ($3.6 million) in the previous year.