Mubasher: Kuwait Business Town Real Estate achieved an increase of 46.6% in profits during the third quarter of 2018 compared to the same quarter a year ago.

Earnings grew to about KWD 917,570 ($3.03 million) in Q3-18 from KWD 626,000 ($2.07 million) in Q3-17, according to a bourse statement on Tuesday.

During the first nine months of 2018, Kuwait Business Town posted a decline of 9% in profits to KWD 1.535 million from KWD 1.686 million in the corresponding period last year.

The decrease in 9M profits is attributed to higher finance cost, the company noted.

At the stock level, Kuwait Business Town closed Tuesday’s session 1.05% lower at 47 fils.