The financial statements of Arkan Al Kuwait Real Estate indicated higher annual profits by 3% over the first quarter ended on 31 January 2020 to KWD 312,918 (approx. $1.03 million) when compared to KWD 304,527 (approx. $998,770).

The growing annual results were backed by higher real estate rental income, according to a bourse disclosure on Wednesday.

It is worth noting that in the fiscal year ended on 31 October 2019, the real estate company logged KWD 2.32 million worth of profits, down by 19.2% from KWD 2.87 million in the previous fiscal year.