Kuwait KCPC posts 31% growth in Q3 profits

Profits amounted to $3.33mln by the end of Q3-19

Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Image used for illustrative purpose. Kuwait City Skyline, Kuwait.

Getty Images/Emad Aljumah

Kuwait Company for Process Plant Construction and Contracting (KCPC) reported an increase in profits by 31.2% during the third quarter (Q3) of the year, according to a bourse filing on Monday.

Profits amounted to KWD 1.01 million ($3.33 million) by the end of Q3-19, compared with KWD 770,000 ($2.54 million) for the same period last year.

In the first nine months of 2019, KCPC profits rose by 2.9% year-on-year (YoY) to KWD 3.57 million, as shown by the company’s financial results.

In the first half (H1) of 2019, the company logged a profit of KWD 2.56 million, up 5.7% from KWD 2.7 million in H1-18.

Source: Mubasher

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