Mubasher: Tamdeen Real Estate posted a decline of 32.8% in profits during the second quarter of 2017 compared to the same period a year ago.

Earnings shrank to KWD 1.04 million ($3.43 million) in Q2-17 from KWD 1.55 million ($5.12 million) in Q2-16, according to a bourse statement issued on Tuesday.

During the first six months of 2017, the company reported a decline of 1.3% in profits to KWD 7.06 million from KWD 7.15 million in the same period a year ago.

In the first quarter of this year, Tamdeen Real Estate achieved a rise of 7.5% in profits to KWD 6.02 million from KWD 5.6 million in Q1-16.