Kuwait’s Al Mazaya H1 profit up 1.06%

Dubai: Kuwaiti developer Al Mazaya Holding reported a 1.06 per cent increase in half-year net profit on Monday.

The company made 4.13 million Kuwaiti dinars (Dh50.1 million / $13.6 million) in the six months to June 30, compared with 4.09 million Kuwaiti dinars in the same period a year earlier, according to financial documents published on the Dubai exchange.

Half-yearly revenue fell 14.7 per cent to 21.89 million Kuwaiti dinars, down from 25.66 million Kuwaiti dinars a year ago.

Quarterly profit fell 4.28 per cent to 2.27 million Kuwaiti dinars in the three months to June 30, compared with 2.37 million Kuwaiti dinars in the corresponding period. Revenue for the April to June period was 12.3 million Kuwaiti dinars, up 26.8 per cent from the 9.7million Kuwaiti dinars a year earlier.