Mubasher: Al Enmaa Real Estate Company has sold its 22.5%-stake in Energy Central Utilities Bahrain South Water Co for BHD 1.78 million (KWD 1.45 million).
The said stake is classified as an investment in a subsidiary, according to a bourse statement on Monday.
The sale will result in a loss of KWD 229,642 that will reflect on Al Enmaa's interim financial statements for the coming periods.
It is noteworthy that in the first quarter (Q1) ended on 31 January 2020, Al Enmaa Real Estate reported lower profits by 71% at KWD 281,208 ($914,800), compared to KWD 967,818 ($3.15 million) in the same period a year earlier.
