Kuwait – Mubasher: Real Estate Trade Centers (Marakez) recorded a decrease of 9.8% in profits during the third quarter of 2016 as compared to the same period a year ago.

Losses stood at nearly KWD 26,580 ($87,460) in Q3-16, compared with around KWD 29,480 ($97,010) in Q3-15, according to a bourse statement issued on Sunday.

During the first nine months this year, losses shrank by 12% to nearly KWD 86,950 from approximately KWD 98,830 in the same period of 2015.

Marakez clarified that the realized losses during this period resulted from “no revenue covering expenses”.