Kuwait – Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) on Tuesday said its profits increased by 45.5% year-on-year in the second quarter of 2017.
Profits amounted to KWD 1.79 ($5.94 million) in Q2-17, compared to KWD 1.23 ($4.08 million) in Q2-16, according to statements to Boursa Kuwait.
HEISCO attributed the growth in its year-on-year profits to the increase in operating revenues.
At the level of the first six months of 2017 profits levelled up 4.2% to reach KWD 3.21 million, compared to KWD 3.08 million in H1-16.
HEISCO’s stock dropped 1%, closing at 209 fils on Wednesday.
