Kuwait – Mubasher: Al Enmaa Real Estate posted a decline of 32% in profits during the second quarter ended 30 April 2017, compared with the same period of 2016.

The earnings decreased to about KWD 198,540 ($652,730) in Q2 this year from nearly KWD 291,900 ($959,660) in the same quarter of 2016, according to a bourse statement issued on Monday.

During the first half ended 30 April 2017, the profits fell by 13.4% to approximately KWD 374,370 from about KWD 432,030 in the same half of the prior year.

The decrease in profits is attributed to net losses from investment revenues.