Al Mazaya Posts 1.06% Profit Increase in H1 of 2016

Tuesday, 26th July 2016

Al Mazaya Holding, one of the leading Kuwaiti developers has announced a net profit increase worth 1.06%, in the first half (H1) of this year, Gulf News reported.

During the first six months of this year, the company had a KWD 4.13 million ($ 13.6 million) profit, compared to KWD 4.09 million in H1 of 2015, according to data published on the Dubai Exchange.

On the other hand, revenues dropped during H1 by 14.7%, to reach KWD 21.89 million, from KWD 25.66 million in the same period of last year.

Q2 profits for this year fell by 4.2%, to reach KWD 2.28 million compared to KWD 2.38 million in the same period of last year, Mubasher reported, quoting the bourse.

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