Mubasher: Kuwait-based National Industries Company (NIC) reported a 37% year-on-year increase in profits during the first quarter of 2019.

NIC’s profits reached KWD 1.77 million in Q1-19, compared to KWD 1.29 million during Q1-18, according to a recent statement to Boursa Kuwait.

The firm attributed the rise in Q1-19 profits to realising earnings from investments.

Year-on-year, NIC’s assets levelled up 2.75% to KWD 117.5 million by the end of Q1-19 from KWD 114.4 million.

In 2018, the company’s profits went up 23.3% to KWD 3.97 million.