Kuwait – Mubasher: Heavy Engineering Industries and Shipbuilding Company (HEISCO) reported on Sunday a rise of 15.8% in its profits for the third quarter of fiscal 2016 to KWD 1.47 million ($4.84 million), versus KWD 1.27 million ($4.18 million) for Q3-15.
Net profit for the first nine months of 2016 rose by 21.3% to KWD 4.55 million from KWDE 3.75 million for the same period of 2015, according to a bourse filing.
HEISCO attributed the rise in profits to the increase in operating revenues.
The company earlier posted a net profit of KWD 3.08 million for the first half of 2016, 24.25% up from KWD 2.48 million for H1-15.
