Kuwait – Mubasher: Burgan Company for Well Drilling, Trading and Maintenance achieved a rise of 17.8% in profits during the first quarter ended 30 June, 2016 as compared to the same period last year.
Earnings grew to around KWD 392,860 ($1.3 million) in Q1-16 from nearly KWD 333,440 ($1.1 million) in Q1-15, according to a statement issued Thursday.
The increase in profits resulted from better contracts as well as renewing other contracts with Kuwait Oil Company, the company clarified.
Burgan Well Drilling’s stock reached 93 fils, half an hour before closing Thursday’s session, after about 47,200 shares were exchanged at a value of nearly KWD 4,400.
