Kuwait’s Qurain sees near trebling of Q2 profits

14 July 2008 09:36  [Source: ICIS news]

SINGAPORE (ICIS news)--Kuwait’s Qurain Petrochemical Industries Co has reported a near trebling of second-quarter operating profits year on year to Kuwaiti dinars (Kd) 1.6m ($0.42m), it said on Monday.

  

The company attributed the robust performance partly to an improved showing from subsidiary company Kuwait Aromatics, which moved to a Kd0.63m profit during the quarter, from a Kd0.29m loss from the corresponding period a year ago.

 

“The management is studying a number of projects in petrochemical and oil field sectors in Saudi Arabia, Egypt and India,” said Sheikh Mubarak Abdullah al-Mubarak al-Sabah, Qurain’s chairman.

 

($1 = Kd0.26)

 

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By: Bohan Loh
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