Mubasher: Gulf Cable and Electrical Industries Company on Wednesday said that it received a purchase order from Oilfield services company Petrofac Ltd. with a value of $ 8.83 million to supply low- and medium-voltage cables.
The Kuwait-based company expected to generate 2.5% operating profits from the deal, according to a bourse filing.
The company said that the profit will be reflected in the financial statements of the first two quarters of 2018.
By the end of Wednesday’s trading session, the firm’s stock surged 0.23% to 434 fils.
