Mubasher: Dar Al Thuraya Real Estate achieved a year-on-year increase of 55.8% in profits during the second quarter of 2019.
The profits grew to about KWD 367,190 ($1.21 million) in Q2-19 from nearly KWD 235,690 ($776,460) in Q2-18, according to a bourse disclosure on Tuesday.
During the first half of 2019, Dar Al Thuraya recorded a surge of 114.6% in profits to approximately KWD 613,190 in the same period a year ago.
The company clarified that the increase in H1-19 profits is attributed to lower operating costs as well as financing, depreciation, and amortization, versus an increase in revenues, rental value, and income from selling investment properties.
It is noteworthy that during the first quarter of 2019, Dar Al Thuraya reported a leap of 392% in profits to approximately KWD 246,000 when compared to KWD 50,000 in the same period a year ago.
