Mubasher: Qurain Petrochemical Industries Company reported a year-on-year profit increase of 0.8% during the first half of fiscal year 2019, while its gross profit jumped by 13%, according to the oil company’s official statement.

Qurain Petrochemical generated KWD 9.69 million ($31.98 million) in net profit during its fiscal first half, compared with KWD 9.61 million for the year-ago period.

The company said its earnings per share (EPS) for H1-19 came in at 9.38 fils, versus 9.25 fils in H1-18.

Qurain Petrochemical’s gross profit totalled KWD 35.27 million, up from KWD 31.11 million, led by the growth of sales revenues during the reported half.

“The achieved results reflect the capability of QPIC well-balanced portfolio to maintain and sustain the positive momentum despite the witnessed geopolitical and market challenges around the globe,” Qurain Petrochemical’s chairman Sheikh Mubarak Abdullah Al Mubarak Al Sabah said.
The company’s total assets reached KWD 773.20 million as at 30 September 2019, compared with KWD 731.13 million on 31 March 2019.