United Properties Reports KWD 3.11 Million Net Profit in the First Half of 2026

United Properties announced its financial results for the first half of 2026, reporting a net profit of 3.11 million Kuwaiti dinars, compared to 4.43 million dinars during the same period in 2025. Earnings per share amounted to 2.27 fils, down from 3.4 fils in the first half of 2025.

The company explained that the decline in net profit was primarily due to lower profits from certain associates, resulting from the completion of apartment handovers in the Dhasa District project. Additionally, the hospitality sector’s performance was affected by geopolitical developments in the region, which impacted travel flows and hotel occupancy rates, despite improvements in operating profit, revenue growth in other sectors, and a reduction in net financing costs.

The company also recorded a 20% growth in total assets, reaching 826.7 million dinars by the end of the first half of 2026, compared to 687.6 million dinars as of December 31, 2025. Gross profit rose to 17 million dinars, up from 16.5 million dinars in the first half of 2025.

The results showed a slight improvement in operational performance indicators. Operating revenues increased to 49.5 million dinars in the first half of 2026, compared to 49 million dinars during the same period in 2025. Net operating profit also rose by 10.2% to 13.42 million dinars, compared to 12.2 million dinars in the first half of 2025.

Commenting on the financial results for the first half of 2026, Group Chief Executive Officer Mishari Sulaiman Al-Mohilani said, “Our results reflect the continued stability of our operational performance. We have achieved balanced growth in revenues and operating profits, despite ongoing geopolitical challenges and their impact on several key sectors.”

Al-Mohilani added that the company continued to implement its strategic priorities during the first half of the year, focusing on enhancing operational efficiency, improving asset quality, and maintaining discipline in cost and financing management, thereby supporting business resilience in the face of economic changes.

He concluded that the company looks forward to building on this performance in the second half of the year by continuing to develop its investment portfolio and capitalizing on selective opportunities, thereby enhancing returns and delivering sustainable value to shareholders.