Oula Fuel profits rise 16% in Q3

The rise in net profits, despite a lower total, was attributed to higher incomes, and earnings from a property sale.

  
Mubasher:Oula Fuel Marketing Company reported a 15.9% increase in profits during the third quarter (Q3) of the year, as shown by the company’s financial statements.

Profits reached KWD 743,000 ($2.45 million) during Q3-19, compared with KWD 641,000 ($2.12 million) for the same period a year earlier, the company said in a statement to Boursa Kuwait on Thursday.

In the nine-month period to 30 September, profits levelled up by 4% to KWD 3.685 million, compared with KWD 3.543 million in the same period in 2018.

The rise in net profits, despite a lower total, was attributed to higher incomes, and earnings from a property sale.

Source: Mubasher

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