Kuwait – Mubasher: Aayan Real Estate on Thursday announced its profits surged 84.9% year-on-year in the second quarter of 2017.

Profits amounted to KWD 357,600 ($1.18 million) in Q2-17, compared to KWD 193,410 ($638,360) in Q2-16, according to a statement to Boursa Kuwait.

The firm attributed the growth in profits year-on-year to the increase of the real estate activities’ profits.

At the level of the first six months of 2017, the company’s profits levelled up 125.7% reaching KWD 894,490, compared KWD 396,260 in H1-16.

The Kuwaiti real estate firm’s stock decreased 2% closed at 83 fils on Thursday.