Kuwait – Mubasher: United Projects Company for Aviation Services (UPAC) reported a growth of 47.2% year-on-year increase in profits during the third quarter this year as compared to the same period in 2015.
Earnings stood at KWD 2.34 million ($7.7 million) in Q3-16, higher from KWD 1.59 million ($5.2 million) in Q3-15, according to a bourse statement issued on Sunday.
Over the first nine months of 2016, UPAC’s profits soared 27% to reach KWD 6.16 million from KWD 4.85 million in the same period of 2015.
The increase in profits is attributed to higher revenue from projects’ management including car parking areas and other leasing contracts, UPAC clarified in the statement.
