Mubasher: Mabanee Co. achieved an 11.5% year-on-year increase in the second quarter of 2019, Boursa Kuwait disclosed on Wednesday.

The profits amounted to KWD 14.05 million ($46.27 million) in Q2-19, compared to KWD 12.59 million ($41.46 million) in Q2-18.

In the first half of 2019, Mabanee recorded KWD 27.80 million worth of profits, compared to KWD 24.77 million in H1-18, with a 12.3% growth.

Total operating revenues of the company grew by 18.1% to KWD 46.88 million in H1-19, compared to KWD 39.71 million in H1-18, according to the disclosure.

By 30 June 2019, Mabanee’s assets recorded KWD 895.71 million, with an 8.1% rise, compared to KWD 828.38 million in the corresponding period last year.

It is worth noting that during the first quarter of 2019, the company’s profits rose by 13.1% to KWD 13.76 million, compared to KWD 12.17 million in Q1-18.