PRESSR: NREC reports a net profit of KD 1.2mln for Q1/2025

About this update from Agility Global Plc

EBITDA: KD 3.4 millionTotal Assets: KD 551 millionQ1 2025(Million KD)Q1 2024(Million KD)Variance(%)Operating Revenue0.81.5-45%Net Revenue0.60.9-32%EBITDA3.44.8-30%Net Profit (Loss)1.22.9-58%EPS (fils)0.641.55-59%Kuwait: National Real Estate Company (NREC) has announced its financial and operational results for the quarter ended March 31, 2025. The Company reported a net profit of KD 1.2 million and earnings per share (EPS) of 0.64 fils, compared to a net profit of KD 2.9 million and an EPS of 1.55 fils during the same period in 2024.The Company recorded operating revenue of KD 0.8 million for the period ended March 31, 2025, representing a 45% decline compared to the same period in 2024. As of March 31, 2025, total assets amounted to KD 551 million.NREC Vice Chairman and Chief Executive Officer, Faisal Jamil Sultan Al-Essa, commented: “Our first-quarter results are in line with our expectations and reflect our continued alignment with strategic goals, even as market conditions change.”“We continue to focus on strengthening our core portfolio, optimizing the performance of operational assets, and delivering long-term, sustainable value for our shareholders across the markets in which we operate.”Board Recommendation to Increase Issued CapitalThe Company’s Board of Directors has recommended an increase in the Company’s issued capital. This recommendation is subject to the approval of the Extraordinary General Assembly of Shareholders.Strategic Investments and Key Project Highlights: Delivering Sustainable Returns across Our MarketsNREC’s Investment in Agility: Enhancing Shareholder ValueSultan said, “NREC’s 22.3% stake in Agility Public Warehousing reflects our commitment to long-term value. Agility continues to lead in supply chain innovation, driving both growth and operational efficiency.”He continued: “NREC is also an investor in Agility Global, both directly and through Agility Public Warehousing. Agility Global manages several prominent companies like Menzies Aviation, Tristar, and Agility Logistics Parks.”Sultan concluded: “This strategic investment underscores our confidence in Agility’s ongoing growth and its alignment with NREC’s objective of creating sustainable, long-term value for our shareholders.”Key Projects UpdateReem Mall – Abu Dhabi: A Leading Lifestyle DestinationFollowing its successful launch in 2024, Reem Mall continued to perform str...

View stock analysis, news, and events for Agility Global Plc