Mubasher: The interim financial statements of Aqar Real Estate Investments Company revealed a 136.1% year-on-year increase in profits during the third quarter of 2019.

Year-on-year, the profits amounted to nearly KWD 783,030 ($2.58 million) in Q3-19, compared to about KWD 331,690 ($1.09 million), according to a bourse filing on Wednesday.

During the nine-month period of 2019, profits of Aqar Real Estate, net profits rose by 35.6% to KWD 1.409 million, compared to KWD 1.039 million in the corresponding period in 2018.

The company attributed the rise in profits to gains realised from selling an investment property.

It is worth mentioning that during the first half of 2019, the firm logged 11.5% lower profits at about KWD 625,970 from around KWD 707,310 in H1-18.