Mubasher TV
Contact Us Advertising   العربية

Qurain Petrochemical Q2 profits up 131%

Qurain Petrochemical Q2 profits up 131%
(Photo credit: Arabianeye - Reuters)
ALQURAIN
ALQURAIN
0.00% 261.00 0.00

Kuwait – Mubasher: Qurain Petrochemical Industries’ profits for the second quarter ended on 30 September 2016 grew by 130.5% to KWD 5.51 million ($18.15 million), compared to KWD 2.39 million ($7.87 million) for the same period last year.

In the first half of fiscal 2016-2017, net profit rose by 58.7% to KWD 10.49 million from KWD 6.61 million for H1-16/17, according to a statement released on Thursday.

“The results achieved showcase the soundness and diversification of Qurain’s investments, which can withstand the current economic circumstances that the region has encountered given the instability of the market and the geopolitical scene. Qurain continues to actively seek new local and regional investment opportunities, in partnership with well reputed international players in the field,” Qurain’s Chairman, Mubarak Abdullah Al-Mubarak Al-Sabah, said commenting on the results.