Kuwait .. Al -Salihiya shares rises 0.94% after the announcement of the financial statements

The shares of Salihiya Real Estate Company, which is included and traded on the Kuwait Stock Exchange, increased by 0.94% at the beginning of trading today, to circulate at 430 fils per share, after announcing the annual financial statements.

488.4 thousand shares were traded from the shares of the Salhiya Real Estate Company at that time, with the value of trading 209.09 thousand dinars.

The highest price for the share at that time was at 430 fils per share, while the share price was at 427 fils per share.

The shares of “Salihiya Real Estate” witnessed a remarkable increase after announcing an increase in its profits during the fourth quarter of 2024 by 27% compared to last year, in addition to the recommendation of the Board of Directors to distribute cash profits and free shares for shareholders.

The company’s profits in the fourth quarter of last year amounted to 4.73 million dinars, compared to 3.73 million dinars in the same period in 2023.

Despite this growth in quarterly profits, “Salihiya” recorded a decrease in its annual profits for 2024 by 21%, reaching 12.62 million dinars, compared to 16.01 million dinars in the previous year. The company attributed this decline to the increase in consumption and firefighting costs, in addition to the high financing costs.

In a positive step for the shareholders, the Board of Directors recommended the distribution of cash profits of 15% of the nominal value of the share, with a total of 8.60 million dinars, in addition to distributing 5% of the capital, a cup of $ 2.97 million grant.

The company also recorded profits in the first nine months of 2024 amounting to 7.90 million dinars, declining by 36% compared to 12.28 million dinars in the same period in 2023.