Mubasher: National Industries Group Holding achieved a surge of 490% in profits during the first quarter of 2018 compared to the same period in the previous year.

Earnings jumped to KWD 18.52 million ($61.43 million) in Q1-18 from KWD 3.14 million ($10.41 million) in Q1-17, according to a bourse statement on Monday.

National Industries Holding, which is listed on both Boursa Kuwait and the Dubai Financial Market (DFM), clarified that the gross operating revenue increased by 56% to KWD 67.66 million in Q1-18 from KWD 43.49 million in Q1-17.

At the stock level, National Industries Holding closed Monday’s session at 160 fils when traded on Boursa Kuwait.