Kuwait – Mubasher: Kuwait Food – Americana on Tuesday announed a 27.6% increase in its profits for the second quarter of 2017, compared to the year-ago period.

Profits stood at KWD 11.52 million ($38.25 million) in Q2-17, compared to KWD 9.03 million ($29.98 million) in Q2-16, according to a bourse filing.

The food firm attributed the rise in its year-on-year profits to rationalisation of sales and marketing expenses', and lower operating costs.

In the first half of 2017 profits went up 16.6% reaching KWD 28.25 million, from KWD 24.22 million in H1-16.