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Article: Abyaar Real Estate net profit plummets to USD 17m in H1 '09.(Financial report)
- Article from:
- ADP News Middle East & Africa
- Article date:
- July 28, 2009
CopyrightCOPYRIGHT 2009 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)
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(ADPnews) - Jul 28, 2009 - Kuwaiti Abyaar Real Estate Development (KUW:ABYAAR) said yesterday its net profit dropped to KWD 4.89 million (USD 17m/EUR 12m) for the first half of 2009 from KWD 17.3 million a year ago.
The earnings per share (EPS) stood at 7.6 fils compared to 36.2 fils.
The total assets rose to KWD 313.4 million at end-June 2009 versus KWD 190 million at end-June 2008.
For the second quarter of 2009, the company posted a net profit of KWD 1.6 million, down from KWD 8.65 in the same period last year.
Founded in 2005, Abyaar (www.abyaar.com) is a joint venture between Kuwait's A'ayan ...
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