Mubasher: Real Estate Asset Management (REAM) on Thursday reported a 6.2% year-on-year increase in its profits for the fourth quarter of 2017.

Profits recorded KWD 202,030 ($676,000) in Q4-17, up from KWD 193,080 ($646,000) in the same quarter a year earlier, according to the company’s statement to Boursa Kuwait.

During the full year 2017, the company's profits levelled up 14.9% to KWD 908,930, compared to KWD 790,780 in 2016.

The Kuwaiti asset management firm attributed the increase in its earnings to a profit resulting from selling the company’s financial and real estate investments.

In the first nine months of 2017, REAM’s profits jumped 18.3% to KWD 706,900 versus KWD 597,700 in the same period the year before.

REAM’s board recommended distributing a cash dividend of 5 fils per share for the year ended 31 December 2017, according to the statement.