Mubasher: Real Estate Trade Centers (Marakez) posted a decline of 11.3% in profits to total about KWD 101,910 ($332,850) during the fourth quarter of 2016 from around KWD 114,870 ($375,180) in the same period of 2015.
During the fiscal year, earnings decreased by 6.7% to total about KWD 14,960 as compared to nearly KWD 16,040 in the previous fiscal year, according to a bourse filing issued on Tuesday.
Marakez clarified that the drop in profits is attributed to the lack of revenue that should cover expenses.
