(MENAFN) Alargan, a pioneering real estate firm in Kuwait has posted profits of USD88.4mn for 2016, marking an increase of 37 percent compared to USD64.3mn in 2015.
Accordingly, the firm proclaimed its net profit for the year reached KD1.8mn in comparison to a net profit of KD16.7mn.
Additionally, the increase in operational earnings was driven by the performance of the firm's core income-generating assets, advancements in new developments and strong sales.
However, the company's bottom line in 2016 showed a drop in comparison to the previous year due to an exceptional one-time gain of KD26.2mn.
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