Kuwait-Mubasher: Gulf Cable and Electrical Industries achieved a growth of 88.2% in profits of the first quarter, according to a bourse statement.
The KSE-listed firm reported KWD 3.2 million ($10.53 million) profits in Q1-16, compared to KWD 1.7 million ($5.6 million) in Q1-15.
The increase in Q1 earnings resulted from a rise in available-for-sale investments.
On the stock market’s level, Gulf Cable started Tuesday’s session rising 7.14% to top the winners, after about 490,400 shares were traded with a value worth around KWD 180,400.
