Kuwait – Mubasher: Combined Group Contracting Company reported a year-on-year growth of 50.2% in earnings of the third quarter this year.
Net profit increased to about KWD 897,180 ($2.95 million) in Q3-16 from nearly KWD 597,500 ($1.97 million) in Q3-15, according to a bourse statement issued on Sunday.
The first nine months of 2016 were positive for Combined Group which posted KWD 1.12 million profits as compared to KWD 2.7 million in the same period a year ago; a decline of 58.5%.
Combined Group clarified that the decrease in profits resulted from lower consolidated earnings due to higher business costs.
