Kuwait – Mubasher: Sultan Center Food recorded a leap of 1040.5% in profits during the third quarter of 2016 as compared to the same period a year ago.
Earnings jumped to about KWD 349,900 ($1.15 million) in Q3-16 from nearly KWD 30,680 ($100,730) in the same period a year ago, according to a recent bourse filing.
During the first nine months of 2016, profits grew by 47.8% to KWD 1.45 million from approximately KWD 981,040 in the same period a year ago.
The growth in earnings resulted from higher operating profits before calculating provisions as well as realizing profits from the sale of fixed assets, the statement added.
