Mubasher: First Dubai for Real Estate Development incurred a loss of KWD 357,000 ($1.18 million) during the second quarter of 2018 against profits of KWD 507,000 ($1.68 million) in the second quarter of 2017.

During the first half of 2018, First Dubai achieved an increase of 24.8% in profits to KWD 1.26 million from KWD 1.01 million in the first half of 2017, according to a bourse statement on Thursday.

The growth in H1 profits is attributed to higher income from selling an investment property.

At the stock level, First Dubai closed Thursday’s session 0.43% higher at 46.2 fils.