Mubasher: National Industries Group Holding achieved a surge of 248% in profits during the third quarter of 2018 compared to the same period a year ago.

Earnings leaped to KWD 7.36 million ($24.27 million) in Q3-18 from KWD 2.12 million ($6.99 million) in Q3-17, according to a bourse statement on Sunday.

During the first nine months of 2018, National Industries reported an increase of 339% in profits to KWD 32.27 million from KWD 7.35 million from January to September 2017.

National Industries, listed on both Boursa Kuwait and the Dubai Financial Market (DFM), said that the increase in 9M profits is attributed to an income from selling part of an associate.

Operating income grew by 110% to KWD 70.26 million, while operating revenues increased by 41% to KWD 174.98 million.

At the stock level, National Industries closed Sunday’s session 1.25% lower at 158 fils at Boursa Kuwait.