Mubasher: Kuwait and Gulf Link Transport (KGL) reported a surge of 119.8% in profits during the second quarter of 2017 compared to the same period a year ago.
Earnings increased to KWD 1.02 million ($3.37 million) in Q2-17 from approximately KWD 464,050 ($1.53 million) in Q2-16, according to a bourse statement issued on Monday.
During the first six months of 2017, profits grew by 82.6% to KWD 1.75 million from about KWD 958,460 in the same half of the prior year.
KGL noted that the rise in profits is attributed to the noticeable development in the industrial sector.
In the first quarter of 2017, KGL posted a rise of 47.9% in profits to around KWD 731,310 from nearly KWD 494,410 in Q1-16.
