Mubasher: Kuwait-based First Dubai Company reported an 84.2% year-on-year decrease in profits during the first quarter of 2019.
The firm’s profits amounted to KWD 255,270 ($841,550) in Q1-19, down from KWD 1.62 million during Q1-18, according to a statement to Boursa Kuwait on Thursday.
The Kuwaiti real estate developer ascribed the drop in Q1-19 profits to a decline in net investment profits, combined with lower revenues.
In 2018, First Dubai’s profits went down 47.9% to KWD 2.94 million, from KWD 5.64 million a year ago.
