Mubasher: Aayan Real Estate on Monday said it achieved a year-on-year profit growth of 48.6% during the second quarter of 2018.

Earnings increased to about KWD 531,200 ($1.76 million) in Q2-18 from nearly KWD 357,600 ($1.18 million) in the same period of 2017, according to a bourse filing.

During the first six months of 2018, Aayan Real Estate's profits dropped 45.6% to around KWD 486,240 from nearly KWD 894,490 in H1-17.

Aayan Real Estate noted that the drop in H1 profits was attributed to lower operating income from the real estate business.