Al Mazaya posts negligible gain in net profit

Dubai: Al Mazaya Holding, a Kuwaiti real estate company, reported a net profit of $6.25 million (Dh22.9 million) for the first quarter of 2017, largely unchanged from 2016’s figure of $6.16 million, in its financial result released on Thursday.

This resulted in basic earnings per share of 3.07 Fils.

Pinning this marginal increase on an increase in rental income and other operating profits, the statement highlighted the sale of available investments and a decrease in the amount attributable to non-controlling interest.