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Aqar Real Estate Q1 profits rise 24% YoY

Aqar Real Estate Q1 profits rise 24% YoY
Earnings grew to about KWD 317,100 ($1.05 million) in Q1-19
AQAR
AQAR
0.77% 65.50 0.50

Mubasher: Aqar Real Estate Investments achieved an increase of 24% in profits during the first quarter of 2019 when compared to the corresponding period last year.

Earnings grew to about KWD 317,100 ($1.05 million) in Q1-19 from nearly KWD 255,760 ($842,760) in Q1-18.

The increase in Q1-19 profits is attributed to revenues from yields at fair value.

It is worth noting that during fiscal year 2018, Aqar Real Estate posted a decline of 31.1% in profits to KWD 1.21 million from KWD 1.76 million in FY17.