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Arkan Al Kuwait posts KWD 2m profits in 6M

Arkan Al Kuwait posts KWD 2m profits in 6M
Earnings grew to KWD 2.26 million ($7.5 million) in the six-month period
ARKAN
ARKAN
-0.13% 79.80 -0.10

Mubasher: Arkan Al Kuwait Real Estate achieved an increase of 73.9% in profits during the six months that ended on 30 April 2018.

Earnings grew to KWD 2.26 million ($7.5 million) in the six-month period from KWD 1.3 million ($4.3 million) in the corresponding period in 2017, according to a bourse statement on Wednesday.

The incline in profits during the period is attributed to higher income from selling investment properties in addition to leasing real estate assets.

It is noteworthy that Arkan Al Kuwait recorded an increase of 46.7% in profits to KWD 3.58 million during the fiscal year that ended on 31 October 2017 from KWD 3.58 million in the same period last year.