Mubasher: Kuwait Foundry Co. reported a 10% year-on-year rise in profits during the first quarter of 2019.

The firm’s profits amounted to KWD 508,900 in Q1-19, up from KWD 464,700 during Q1-18, according to a statement to Boursa Kuwait.

Kuwait Foundry attributed the rise in Q1-19 profits to an increase in sales.

In 2018, the Kuwait-listed firm’s profits tumbled 77.4% to KWD 1.15 million, against KWD 5.09 million a year ago.