|
|
Article: Union Real Estate 9-mo net profit slips to USD 5.2m.(Financial report)
- Article from:
- ADP News Middle East & Africa
- Article date:
- November 7, 2008
CopyrightCOPYRIGHT 2008 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
(ADP News) - Nov 7, 2008 - Kuwaiti real estate firm Union Real Estate Co (KUW:UREC) said on Thursday its net profit dropped to KWD 1.39 million (USD 5.2m/EUR 4.04m) in the nine months ended September 30, 2008, from KWD 3.99 million a year ago.
The earnings per share (EPS) reached 7.5 fils in the first nine months of 2008, a decrease from 21.4 fils in the same period last year.
In the third quarter of 2008, the net profit stood at KWD 258,600, down from KWD 758,900.
The reasons for the sharp decline were not ...