Mubasher: The Commercial Real Estate (Al Tijaria) reported a decrease of 4.3% in profits during the first quarter of 2018 compared to the same period in the previous fiscal year.

Earnings shrank to KWD 3.76 million ($12.49 million) in Q1-18 from KWD 3.93 million ($13.06 million) in Q1-17, according to a bourse statement on Tuesday.

Al Tijaria noted that the fall in Q1 profits is attributed to lower income from the sale of assets, in addition to higher financing costs.