Mubasher: Salhia Real Estate achieved an increase of 11.6% in profits during the second quarter of 2018 compared to the same period in the prior year.

Earnings grew to KWD 3.67 million ($12.14 million) in Q2-18 from KWD 3.29 million ($10.88 million) in Q2-17, according to a bourse filing on Wednesday.

During the first six months of 2018, Salhia recorded a growth of 19% in profits to KWD 9.41 million compared to KWD 7.91 million in the corresponding half last year.

Salhia Real Estate clarified that the increase in H1 profits is attributed to higher operating revenues.

It is noteworthy that Salhia registered a rise of 24.2% in profits to KWD 5.74 million in the first quarter of 2018, versus KWD 4.62 million in the same period a year ago.