Mubasher: Al Kout Industrial Projects posted a growth of 37.4% in profits during the third quarter of 2017 compared to the same period in the prior year.

Earnings grew to KWD 1.8 million ($5.96 million) in Q3-17 from KWD 1.31 million ($4.34 million) in Q3-16, according to a bourse statement issued on Tuesday.

Al Kout achieved a growth of 30.7% in profits to KWD 5.54 million during the first nine months of 2017 compared to KWD 4.24 million in the same period last year.

The increase in earnings is attributed to higher sale and operating profits, the statement added.

In the first half of 2017, Al Kout posted a profit of KWD 3.74 million which was 27.7% higher than KWD 2.93 million in the first half a year ago.