Mubasher: Aqar Real Estate Investments posted a decrease of 3.8% in profits during the third quarter of 2018 compared to the corresponding period a year ago.

Earnings shrank to about KWD 331,900 ($1.09 million) in Q3-18 from around KWD 345,100 ($1.14 million) in Q3-17, according to a recent disclosure.

From January to September, Aqar posted a growth of 0.9% in profits to KWD 1.04 million from KWD 1.03 million in the same period a year ago.

Aqar added that the increase in 9M profits is attributed to realised income from selling an investment building.

The company’s total assets shrank by 3.8% to KWD 29.3 million, while its operating revenues posted an annual decrease of 6% to KWD 1.39 million.