Mubasher: Al Kout Industrial Projects has signed a credit facility agreement with Boubyan Bank at a total value of KWD 10 million to finance the company’s activities.
The transaction has a positive impact that will reflect on the company's consolidated financial statements starting from the second quarter (Q2) of 2020, according to a stock exchange filing on Thursday.
It is worth remarking that in the fiscal year (FY) 2019, Al Kout recorded 23.9% lower profits at KWD 4.79 million ($15.42 million), compared with KWD 6.29 million ($20.25 million) a year earlier.
