Mubasher: National Industries Group Holding registered an increase of 205.7% in profits during the second quarter of 2018 compared to the same period in the prior year.
Earnings rose to KWD 6.39 million ($21.13 million) in Q2-18 from KWD 2.09 million ($6.91 million) in Q2-17, according to a bourse statement on Wednesday.
National Industries Holding, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), recorded a soar of 376.3% in profits to KWD 24.91 million during the first half of 2018 from KWD 5.23 million in the same six months a year earlier.
The jump in H1 profits is attributed to higher income from investments in addition to a profit resulted from selling part of the company’s equity in an associate.
It is noteworthy that during the first quarter of 2018, National Industries Holding posted an increase of 490% in profits to KWD 18.52 million compared to KWD 3.14 million in the same quarter a year ago.
