FINANCIAL NEWS

Kuwait- Metals & Recycling Co. profits up 7.32pct

07 Apr 2017

(MENAFN) Kuwait-based Metals and Recycling Co., a pioneering eco industrial firm, exhibited enhanced earnings performance amid the financial year ended Dec 31, 2016.

Furthermore, the firm’s revenue grew by 7.32 percent last year to USD39.6mn, from USD37.05mn amid FY 2015.

Additionally, gross profit increased by 51.6 percent from USD7.21bn amid FY 2015 to USD10.82mn during last year, due to realized cost efficiencies and optimization.

The plastics and waste management business units’ contribution to the results came from strategic streamlining aimed at maximizing capacity.

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MENAFN0704201700450000ID1095375962

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