Gulf Cable’s unit in Jordan receives $9.5m deal

Gulf Cable’s unit in Jordan receives $9.5m deal

Mubasher: Gulf Cable and Electrical Industries announced that its subsidiary in Jordan has received a purchase contract from Jordanian Electric Power Co (JEPCO).

Gulf Cable and Electrical Industries Co – Jordan received the deal for a total value of $9.47 million, according to a bourse disclosure on Wednesday.

The Bourse Kuwait-listed company expected an estimated operating profit accounting for 2% of the total contract value; however, this profit can be modified based on change in prices.

The financial impact of this contract will be registered in the income statements of the first, second, and third quarters of fiscal year 2019.