Kuwait-Mubasher: Kuwait Foundry’s financials turned profitable in the first quarter of 2016, versus losses posted in the same period in 2015, according to a bourse statement.
Earnings reached about KWD 592,400 ($1.97 million) in Q1-16, against losses worth nearly KWD 469,100 ($1.56 million) in Q1-15.
Low cost of sales decreased, enhancing Q1 financials to achieve profits.
On KSE’s level, the stock ended Monday’s session rising 1.04% to 194 fils, as about 97,500 shares were exchanged with a value of nearly KWD 18,700.
