Kuwait – Mubasher: Acico Industries posted a year-on-year growth in profits by 0.78% for the first quarter of 2017, according to a bourse statement.

Profits reached KWD 3.88 million ($12.68 million) in Q1-17, compared to KWD 3.85 million ($12.62 million) in Q1-16.

The rise in profit is mainly attributed to higher real estate income.

Net operating profits increased 11.8% to KWD 9.87 million in Q1-17, compared to KWD 8.83 million in Q1-16.

The company’s stock stabilised at 290 fils on Tuesday, generating KWD 7,250 from the exchange of 25,000 shares.