'Al-Markaz': KD 7.4 million increase in net profit
Qiyas summary
The sale of an investment property in the United States led to an increase in net profit.
Translated by Qiyas from النهار — Original source
Al Markazi Financial Company announced that one of its US-based subsidiaries has completed the sale of an investment property, resulting in a reduction of liabilities by KD 10.4 million and an increase in net profit by approximately KD 7.4 million in the consolidated financial statements. The company stated in a disclosure to the stock exchange yesterday that the sale was completed after fulfilling the agreed-upon conditions and procedures between the relevant parties. It added that the increase in net profit includes KD 4 million attributable to shareholders of Kuwait Finance House.
