United Real Estate Co. announced earnings results for the third quarter and nine months of 2014. For the quarter, the company reported an 82.4% annual drop in net profit to KD 933,311, due to the revaluation of an investment property in the year-earlier period and higher finance costs in the current one. Earnings per share (EPS) stood at 0.87 fils compared to 4.96 fils. Operating profit more than halved to KD 3.08 million from KD 7.77 million. Total operating revenue increased 30.5% on an annual basis to KD 11.8 million.

For the nine months, the net profit of the real estate operator dropped an annual 60.6% to KD 4.45 million. EPS came in at 4.15 fils versus 10.43 fils. Operating profit shrunk 35.6% to KD 11.26 million. Total operating revenue grew almost 17% to KD 34.58 million.