Mubasher: Kuwait Real Estate achieved KWD 7.05 million worth of profits over 2019, up by 4.4% when compared to KWD 6.7 million in the previous year.

The increase in the annual earnings is due to higher operating income and realised gains from an acquisition of a subsidiary, according to a bourse disclosure on Sunday.

By the end of the fourth quarter (Q4), the profits shrank by 84.2% to KWD 272,747 from KWD 1.7 million in Q4-18.

The board of directors proposed distributing bonus shares equivalent to five treasury shares for every 100 shares for 2019.

In the nine-month period ended 30 September 2019, the profits reached KWD 6.77 million, compared with KWD 5.02 million in the corresponding period in 2018.