Mubasher: National Industries achieved a surge of 293% in profits during the second quarter of 2018 compared to the same period in the previous year.

Earnings increased to KWD 1.69 million ($5.6 million) in Q2-18 from about KWD 430,000 ($1.42 million) in Q2-17, according to a bourse statement on Monday.

During the first half of 2018, National Industries recorded a growth of 136.5% in profits to KWD 2.98 million compared to KWD 1.26 million in the same half a year ago.

National Industries clarified that the incline in H1 earnings is attributed to higher sales in addition to repaying a provision of doubtful debts.

It is noteworthy that the company reported an increase of 55.1% in profits to KWD 1.29 million in Q1-18 from around KWD 831,760 in Q1-17.