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Burgan Drilling Q3 profits decline 61%

Burgan Drilling Q3 profits decline 61%
Burgan Drilling recorded a growth of 22.5% in profits in 9 months
ABAR
ABAR
2.83% 109.00 3.00

Mubasher: Burgan Company for Well Drilling, Trading and Maintenance achieved an increase of 61.3% in profits during the third quarter ended on 31 December 2018 compared to the same period a year ago.

Earnings shrank to about KWD 242,520 ($795,990) in Q3-18 from nearly KWD 626,220 ($2.05 million) in Q3 a year ago, according to a bourse statement on Thursday.

During the nine months that ended on 31 December 2018, Burgan Drilling recorded a growth of 22.5% in profits to KWD 2.13 million compared to KWD 1.73 million in the corresponding period in 2017.