Kuwait – Mubasher: Oula Fuel Marketing achieved a growth of 30.7% in profits during the second quarter of 2016 as compared to the same period in the previous year.
The Kuwaiti company posted KWD 1.21 million ($6.29 million) profits in Q2-16, up from nearly KWD 926,060 ($3.07 million) in Q2-15, according to a bourse statement.
Oula Fuel clarified that the increase in Q2 profits resulted from lower operating expenses as well as general and administrative expenses over the quarter.
During the first half of 2016, profits grew by 24.2% to KWD 2.36 million from KWD 1.9 million in the corresponding half of 2015.
