Mubasher: United Projects Company for Aviation Services’ (UPAC) operations in Kuwait International Airport (KIA) and other major areas in the country have enhanced the growth in profits during the first half of 2018, the CEO of UPAC, Nadia Akil, said in an official statement.
All factors indicate to a year of positive performance for UPAC as the company’s profits continued to increase largely in the second quarter of 2018, Akil added.
Earlier on Sunday, UPAC announced a growth of 24.1% in profits during the second quarter of 2018 compared to the same period a year ago.
Earnings grew to KWD 2.83 million ($9.4 million) in Q2-18 from KWD 2.28 million ($7.5 million) in Q2-17.
During the first six months of 2018, UPAC recorded an increase of 13.9% in profits to KWD 5.07 million from KWD 4.45 million in H1-17.
UPAC noted that the growth in H1 profits is attributed to higher operating income and interest revenue.
It is noteworthy that in the first quarter of 2018, UPAC posted a rise of 2.3% in profits to KWD 2.23 million from KWD 2.18 million in Q1-17.
