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Combined Group Q1 profits jump 259%

Combined Group Q1 profits jump 259%
Earnings grew to KWD 1.83 million ($6.08 million) in Q1-18
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-3.23% 240.00 -8.00

Mubasher: Combined Group Contracting Company recorded a leap of 258.7% in profits during the first quarter of 2018 compared to the same period in the previous fiscal year.

Earnings grew to KWD 1.83 million ($6.08 million) in Q1-18 from nearly KWD 510,120 ($1.7 million) in Q1-17, according to a bourse filing on Monday.

Combined Group clarified that the increase in Q1 profits is attributed to a rise in the gross profit of the group which was generated mainly by the subsidiary Combined Group Rocks.