National Real Estate records KWD 5.11m profit in Q3

National Real Estate records KWD 5.11m profit in Q3
Earnings increased to KWD 5.11 million ($16.92 million) in Q3-17
NRE NRE -1.00% 119.00 -1.00

Mubasher: National real Estate reported a growth of 45.6% in profits during the third quarter of 2017 compared to the same quarter last year.

Earnings increased to KWD 5.11 million ($16.92 million) in Q3-17 from KWD 3.51 million ($11.62 million) in Q3-16, according to a bourse statement issued on Tuesday.

During the nine-month period, National Real Estate posted a growth of 13.4% in profits to KWD 12.57 million from KWD 11.09 million in the same period a year ago.

The increase in profits is attributed to higher gain from the income statement of an associate, Agility.

Noteworthy, National Real Estate posted a decline of 1.6% in profits to KWD 7.46 million in the first half of 2017 compared to KWD 7.58 million in the same half last year. 

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Source: Mubasher

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