Mubasher: Kuwait-based Oula Fuel Marketing reported a 0.27% year-on-year rise in profits in the first quarter of 2019.
Oula’s profits hit KWD 1.476 million by the end of Q1-19, compared to KWD 1.472 million during Q1-18, according to a filing to Boursa Kuwait on Thursday.
The decline in net income and fuel sales was offset by a rise in other income and the firm’s profit stake in an associate.
In March, the company’s shareholders approved the board's proposal to distribute 1.99 million as cash dividends for the full fiscal year 2018.
In 2018, Oula Fuel’s profits went up 6.4% to KWD 3.81 million, compared to KWD 3.58 million a year ago.
