Mubasher: Gulf Cable and Electrical Industries reported a jump of 382.6% in profits during the second quarter of 2018 compared to the same period in the prior year.

Earnings grew to KWD 5.26 million ($17.4 million) in Q2-18 from KWD 1.09 million ($3.6 million) in Q2-17, according to a bourse statement on Monday.

During the first six months of 2018, Gulf Cable achieved an increase of 7.7% in profits to KWD 6.58 million compared to KWD 6.11 million in the same period a year ago.

The growth in H1 profits is attributed to an increase in sales.

At the stock level, Gulf Cable closed Monday’s session 1.02% lower at 388 fils.