Mubasher: Shuaiba Industrial achieved about KWD 632,050 ($2.08 million) worth profits in the first quarter of 2017, 0.4% higher than nearly KWD 629,560 ($2.07 million) in the same period a year ago.
The company clarified that the growth in Q1 profits is attributed to a higher share from the financial statements of an associate, according to a bourse filing issued on Monday.
During FY16, the company recorded a rise of 9.43% in profits to KWD 1.9 million from KWD 1.71 million in FY15.
At the stock level, Shuaiba Industrial closed Monday’s session 4.76% lower at 300 fils.
