Kuwait – Mubasher: Gulf Cable and Electrical Industries was given KWD 2 million ($6.550 million) from the electricity and water ministry to supply aluminum cables, according to a bourse statement issued on Tuesday.
The supply order is expected to generate operating profits of 3.75% of the order value, the statement said.
The company’s profit from the tender stands at KWD 75,000.
The impact from this tender will reflect on the company’s financial statements during the fourth quarter of 2016 and until the second quarter of 2017.
