NREC posts KD 17.9mn net profit in 2022 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

NREC posts KD 17.9mn net profit in 2022 – ARAB TIMES – KUWAIT NEWS – Arab Times Kuwait News

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KUWAIT CITY, April 1: National Real Estate Company (NREC), currently developing various mega projects in the Middle East and North Africa region, reported its financial and operational results for the year ending December 31, 2022. The Company announced a net profit attributable to the owners of the Parent Company of KD 17.9 million and an EPS of 10.1 fils in 2022, compared to a net profit of KD 199.6 million and an EPS of 112.2 fils in 2021. The Company’s operating revenue came in at KD 26 million for the year ending December 31, 2022, as compared to KD 32.5 million in 2021. Total assets were KD 539 million by December 31, 2022, as compared to KD 654 million in 2021. For Q4 2022, the Company reported a net profit of KD 6.3 million, or a profit per share of 3.6 fils, and an operating revenue of KD 7.3 million.