Kuwait – Mubasher: Kuwait Real Estate Holding’s (Al-Aqaria) profits declined 81.55% year-on-year in the third quarter of 2016.
The company posted KWD 3,173 ($12,250) profits in Q3, compared to KWD 20,122 ($66,400) in Q3-15, according to a bourse filing on Thursday.
Al-Aqaria’s profits retreated 34.2% to KWD 25,363 in the nine-month period of 2016, from KWD 38,440 in the same period of the previous year.
The decrease in net profit is due to investments at fair value valuation, the company said.
