Mubasher: Gulf Cable and Electrical Industries received a purchase order from the electricity and water ministry of Kuwait for KWD 2.78 million ($9.11 million), according to a bourse statement issued on Thursday.
An estimated operating profit of 5% is expected to be generated from the deal, the company said, noting that this can be changed during the contract’s duration.
The financial impact from this deal will be registered in the company’s financial statements during fiscal year 2017, the statement said.
