Kuwait-Mubasher: Refrigeration Industries and Storage Company’s net profit grew in the second quarter of fiscal 2016 by 47.1% to KWD 1.78 million ($5.88 million), versus KWD 1.21 million ($4 million) in Q2-15.
In the first half of fiscal 2016, net profit reached KWD 3 million, rising 40.9% compared to KWD 2.13 million posted for H1-15, according to a bourse filing released on Sunday.
The company attributed the rise to higher operating revenues and the increase in gross profit.
The company earlier posted a net profit of KWD 1.21 million for Q1-16, versus KWD 920.700 for Q1-15.
