By: Mohammed Farouk

Mubasher: Al Enmaa Real Estate recorded a 131.8% year-on-year hike in profits for the third quarter of 2018.

Net profits jumped to KWD 257,230 ($850,830) in the three-month period ended 31 July, from KWD 110,950 ($366,990) in Q3-17.

In the nine months ended July, the company logged around KWD 950,530 in profits, up 97.7% from KWD 485,350 in the corresponding period a year earlier.

The company attributed the growth in profits to the increase in net operating profit.

In the first half of this year, Al Enmaa registered a surge of 88% in profits to about KWD 702,300, compared to nearly KWD 374,400 in H1-17.