Kuwait – Mubasher: Egypt Kuwait Holding (EK) reported an increase in its profits for the second quarter and first half of the fiscal year 2016, according to a bourse filing.

Q2 net profit grew 16% year-over-year to $10.98 million from $9.47 million.

H1 net profit reached $32.21 million, higher 40.7% from $22.89 million for the year-ago period.

The company attributed higher H1 profits to an increase in revenues raised from the supply of gas, the activity of chemicals and plastic materials, as well as the business of fertilizers.

Over the first quarter, the company earned $21.83 million, up 45% from the comparable period a year earlier.