Mubasher: Oula Fuel Marketing on Sunday reported a 15.7% year-on-year rise in profits in the second quarter of 2017.

The Kuwait-listed fuel company achieved KWD 1.4 million ($4.65 million) in profits in the period between April and June, up from KWD 1.21 million ($4.02 million) in the year-ago period, according to a bourse filing.

Meanwhile, at the level of the first six months, Oula Fuel logged KWD 2.85 million, registering an increase of 20.8% from KWD 2.36 million in the same period of 2016.

The company attributed its profit rises during the six-month period to higher other profits and returns from real estate investments, the statement showed.

The fuel marketing firm had previously reported achieving a 26.1% rise in profits to KWD 1.45 million in Q1-17 compared to KWD 1.15 million in Q1-16.

By 9:18 am Kuwait time on Sunday, Oula Fuel Marketing’s stock gained 1.67% to 122 fils.