Mubasher: Advanced Technology (ATC) achieved an increase of 41.2% in profits during the first quarter of 2018 compared to the same period in the prior fiscal year.

Earnings grew to KWD 2.64 million ($8.77 million) in Q1-18 from KWD 1.87 million ($6.21 million) in Q1-17, according to a bourse statement on Tuesday.

It is noteworthy that in fiscal year 2017, ATC reported a rise of 39.3% in profits to KWD 8.16 million compared to KWD 5.86 million in FY16.