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Arkan Al Kuwait Q3 profits up 5.1%

Arkan Al Kuwait Q3 profits up 5.1%
The rise in Q3 earnings is attributed to higher profit from selling investment properties
ARKAN
ARKAN
5.78% 86.00 4.70

Mubasher: Arkan Al Kuwait Real Estate achieved a growth of 5.1% in profits during the third quarter ended 31 July 2017.

Earnings increased to KWD 2.91 million ($9.69 million) in Q3 this year compared to KWD 2.77 million ($9.22 million) in the same quarter a year ago, according to a bourse statement issued on Monday.

The rise in Q3 earnings is attributed to higher profit from selling investment properties as well as revenues from leasing contracts.

During the first half ended 30 April 2017, Arkan registered a decline of 27.4% in profits to KWD 1.30 million from KWD 1.79 million in the same half a year ago.