Kuwait's Tamdeen earns $23m H1 2017 net profit

In a filing to Boursa Kuwait, Tamdeen said its shareholders' equity was worth $471.3m in H1 2017, an increase over H1 2016's $425m

Kuwait's Tamdeen recorded $23m in H1 2017 net profit [representational image].
Kuwait's Tamdeen recorded $23m in H1 2017 net profit [representational image].

Kuwait's Tamdeen Real Estate Company earned $23.2m (KWD7m) in net profit during the first half of this year, it has been revealed.

The figure is 1.3% lower than last year's corresponding results. 

READ: NBK reports surge in Kuwait’s Q2 2017 real estate sales

In a filing to the country's stock market, Boursa Kuwait, Tamdeen said its shareholders' equity was worth $471.3m (KWD142.2m) in H1 2017. 

The equity has recorded an increase over H1 2016's $425m (KWD128.2m). 

Tamdeen's assets during the period were worth $1.6bn (KWD482m), and its liabilities amounted to $841.5m (KWD254m), state news agency KUNA reported.

READ: Kuwait awards $4.6bn infrastructure contracts

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