|26 September, 2018

Kuwait Real Estate profits likely to rise 16% in 9M – Analyst

Company registered a growth of 23% in earnings in first half of 2018

Kuwait City skyline view. Image used for illustrative purpose.

Kuwait City skyline view. Image used for illustrative purpose.

Kuwait Real Estate is expected to achieve a profit increase of 15.6% to KWD 5.2 million during the nine-month period in 2018 compared to KWD 4.52 million ($15 million) in the corresponding period a year ago, capital market analyst Ahmad Jassim Al Qamar told Mubasher on Wednesday.

It is noteworthy that the real estate company registered a growth of 23% in earnings to KWD 3.88 million in the first half of 2018 compared to KWD 3.15 million in the same period in 2017.

In FY17, Kuwait Real Estate posted a decline of 53.9% in profits to KWD 2.22 million compared to KWD 4.82 million in 2016.

On Wednesday, Kuwait Real Estate's stock, which closed at 46.3 fils, was the most active in Boursa Kuwait with 26 million shares traded through 221 transactions at a value of KWD 1.19 million, the highest level in a year and a half.

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