Kuwait-Mubasher: United Foodstuff Industries Group reported a growth of 15.6% in profits of the first quarter of 2016 as compared to the same period in 2015, according to a bourse statement issued Monday.
The company’s earnings grew to about KWD 272,400 ($900,790) in Q1-16 from nearly KWD 235,600 ($779,100) in Q1-15.
The KSE-listed firm clarified that the increase in Q1 profits resulted from a growth in operating revenues, sales, as well as a decrease in production costs, wages.
