Boubyan Petrochemical achieved an increase of 50.2% in profits during the first quarter ended on 31 July 2018 compared to the same period ended on 31 July 2017, according to a bourse disclosure on Thursday.
Earnings enlarged to KWD 1.4 million ($4.63 million) in Q1 ended on 31 July 2018 from approximately KWD 931,890 ($3.08 million) in Q1 ended on 2017.
The growth in Boubyan Petrochemical’s Q1 profits is attributed to income from liabilities at fair value in addition to an increase in the results registered in associates from new acquisition deals.
Net operating income rose by 42.7% to KWD 4.28 million in Q1 ended on 31 July 2018 from KWD 3 million in the same period a year ago.
At the stock level, Boubyan Petrochemical closed Thursday’s session 1.02% lower at KWD 1.069.