Mubasher: Soor Fuel Marketing (Soor) on Sunday reported a 15% year-on-year increase in profits for the third quarter of 2018.
Net profits amounted to KWD 683,000 ($2.25 million) in Q3-18, compared to KWD 591,000 ($1.95 million) in Q3-17, according to a statement to Boursa Kuwait.
For the first nine months of 2018, Soor’s profit rose 4% to KWD 3.09 million ($10.16 million), from KWD 2.79 million ($9.18 million) in the same period of the previous year.
The profit growth was attributed to an increase in operating revenues, according to the statement.
It is worth mentioning that the company’s profits went up 1.3% year-on-year to KWD 2.41 million during the first half of 2018.
By the end of Sunday’s stock, Soor’s stock stood at 118 fils.
