Mubasher: Kuwait and Gulf Link Transport (KGL) reported an increase of 97% in profits during the first quarter of 2018 compared to the same period in the previous fiscal year.

Earnings soared to KWD 1.44 million ($4.78 million) in Q1-18 from about KWD 731,310 ($2.43 million) in Q1-17, according to a bourse statement on Monday.

The increase in Q1 profits is attributed to an improvement in the company’s industrial business.

At the stock level, KGL closed Monday’s session 5.2% higher at 102 fils.