Mubasher: Gulf Cable and Electrical Industries has received a request from a local contracting company to supply low- and high-pressure cables at a total value of KWD 2.21 million ($7.31 million).

An operating profit of nearly 2.3% is expected to be realised from this supply order at a value of KWD 50,900 as estimated, according to a bourse filing on Wednesday.

Gulf Cable clarified that this profit amount can be modified during the supply period.

It added that the impact of this supply order will reflect on the income statements of the third and fourth quarters of fiscal year 2018/2019.

It is noteworthy that Gulf Cable received a purchasing request in May from KCC Engineering and Contracting Company to supply low- and medium-pressure cables valued at KWD 1.61 million.

At the stock level, Gulf Cable closed Wednesday’s session at 390 fils.