KUWAIT: Abdulfatah M R Marafie – Chairman of The Commercial Real Estate Company (Al-Tijaria) has stated that the business outcome of the company for the financial period which ended on 30.06.2018, resulted in achieving net profits of KD 7,154,131.
The shareholders’ equity grew by 1.4 percent and the net operational profits of the company driven by the rental income from the investment properties and the hotel , has shown growth by 3.4 percent compared with the same period of year 2017. The return on shareholders’ equity is 2.5 percent and the return on the capital is 4 percent for the 6 month period ended Jun 30, 2018.
Marafie further stated that “the company is focused on improving its performance and results by strengthening operational revenues, cash flow and minimizing costs. To this end we have implemented a strategy which is fully functional and delivering timely action plans which will preserve and add value to the shareholders equity in the midst of the current political and economic challenges.”
He further stated that “in the second quarter of 2018”, the company successfully held many Events, to improve its vital role in corporate social responsibility. Such initiatives targets various segments of the society, and augments the company’s belief in its social responsibilities and commitment to the ideal application of corporate governance principles.
To conclude, Marafie expressed his deepest gratitude and appreciation to all shareholders, Member of the Board of Directors and all employees for their efforts, continuous support, and hard work for reaching the goals and objectives.