Kuwait-Mubasher: Gulf Cable and Electrical Industries has won a contract worth KWD 3.95 million from the Ministry of Electricity and Water to supply welding cable connectors, the company said in a bourse statement.
The cable producer expects to record estimated operating profits at 5.75% (KWD 227,000) of the contract value. However, this amount may change during the supply period due to the implementation conditions and price changes.
The stock rose 4.55% to 345 fils one hour before Tuesday's closing, after 145,700 shares changed hands at a total value of KWD 49,200.
