Mubasher: Munshaat Real Estate Projects Co, listed on Boursa Kuwait, on Tuesday revealed it has turned to profits during the second quarter of 2019.
Profits amounted to KWD 145,000 ($477,980) in Q2-19, against losses of KWD 399,000 ($1.32 million) in the same quarter of 2018, according to a bourse filing.
The company has trimmed its losses by 34.7% year-on-year during the first half of 2019 to KWD 1.3 million from KWD 1.99 million.
It is worth noting that Munshaat previously reported an 8.8% decrease in losses for Q1-19, incurring KWD 1.45 million in losses, versus KWD 1.59 million for Q1-18.
