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Al Mazaya Holding turns to profitability in H1-21

Al Mazaya Holding turns to profitability in H1-21
The company's revenues decreased to KWD 6.354 million
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ENBDREIT
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MAZAYA
MAZAYA
-0.26% 77.90 -0.20

Mubasher: The net profits attributable to the shareholders of Al Mazaya Holding recorded KWD 84,233 during the first half (H1) of 2021, against net losses of KWD 4.949 million in the year-ago period, as shown by the company's interim consolidated financials for the period ended 30 June 2021.

Turning to profitability is attributed to lower finance costs and no losses from the change in fair value of investment properties and impairment on properties.

The company's revenues decreased to KWD 6.354 million in the January-June period of 2021 from KWD 13.847 million in the same period of 2020.

The basic and diluted earnings per share (EPS) settled at 0.13 fils each in H1-21.

It is noteworthy to mention that during the first quarter (Q1) of 2021, the company has reported KWD 41,649 net profits attributable to the shareholders of the parent company, against net losses of KWD 3.46 million in the year-ago period.