Mubasher: The Commercial Real Estate (Al Tijaria) achieved a growth of 22.5% in profits during the fourth quarter of 2018 compared to the same period last year.

Earnings grew to KWD 3.65 million ($12.04 million) in Q4-18 from KWD 2.98 million ($9.83 million) in Q4-17, according to a bourse statement on Wednesday.

During fiscal year 2018, Al Tijaria posted a rise of 1.7% in profits to KWD 14.5 million from KWD 14.26 million in the prior year.

The increase in FY18 profits is attributed to lower expenses and higher net revenue from operating activities.

The board members of Al Tijaria have recommended distributing 5% of the capital or 5 fils per share as cash dividends for FY18, in addition to 2% of the capital as bonus shares without a capital hike afterwards.