Article: Abyaar Real Estate net profit plummets to USD 17m in H1 '09.(Financial report)

(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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