Mubasher: Awj Holdings on Monday reported a 106.5% year-on-year increase in profits for the second quarter of 2017.
Profits reached KWD 155,150 ($514,870) in Q2-17 compared to KWD 75,140 ($249,350) in the same period in 2016, according to the company’s statement to Boursa Kuwait.
At the level of the first six months of 2017, Awj’s profits surged 610% to KWD 577,900 from KWD 81,400 in the year-ago period.
Awj attributed its profit growth to the increase in the company’s share in profits from investments in sister companies to KWD 662,250, and the rise in other revenues to KWD 152,700, according to the statement.
The Kuwait-listed company had previously said its profits jumped 6,653.2% to KWD 422,750 in Q1-17 as compared to KWD 6,260 in Q1-16.
By 9:35 am Kuwait time on Monday, Awj’s stock grew 4.81% to 80.7 fils, after 19,100 shares were traded at KWD 1,540.
