Al Tijaria achieves net profit of KD 3,759,946 for Q1

Liabilities dip 7.6%

KUWAIT CITY, May 16: Abdulfatah M.R. Marafie – Chairman of The Commercial Real Estate Company “Al-Tijaria” has stated that the business outcome of the company for the financial period which ended on 31.03.2018, resulted in achieving net profits of KD 3,759,946 (Kuwaiti Dinar three million seven hundred fifty nine thousand & nine hundred forty six only).

The shareholders’ equity grew by 4.9% and the operational profits of the company driven by the rental income from the investment properties and the hotel , has shown growth by 3.6% and the liabilities have dropped down by 7.6% compared with the same period of year 2017. The average return on shareholders’ equity is 1.28% and the return on the capital is 2.1%.

Marafie further stated that “the company focuses on improving its performance and results by strengthening operational revenues and minimizing costs.” He also ensured on further development of strategies by creating methods and follow-up action plans and implementation”.

Al-Tijaria is currently developing a luxury housing project in Kingdom of Bahrain, Al Tijaria Tower in Hoora on an area of 3,856 Sq m and over 46 floors. The unique architecture positions the tower as a landmark in contemporary living and luxury. The project is expected to be delivered in the fourth quarter of 2019. The company has launched its Sales Centre in Bahrain City Centre from May 9th, 2018 to May 13th, 2018. To conclude, Marafie expressed his deepest gratitude and appreciation to all shareholders, Member of the Board of Directors and all employees for their efforts, continuous support, and hard work for reaching the goals and objectives.