Kuwait-Mubasher: Shuaiba Industrial posted an 86% surge in its profits for the first quarter of 2015, reaching KWD 444,920 ($1.47 million) from KWD 239,510 ($789,940) in Q1-14.

The profit rise is mainly attributed to an increase in the company’s operating income, according to a filing to Kuwait Stock Exchange.

Earnings per share rose to 7.06 fils in Q1-15 from 3.8 fils in Q1-14.

The Kuwait-listed company previously reported a profit rise by 2.2% to KWD 1.41 million ($4.75 million) in 2014, compared to KWD 1.38 million ($4.65 million) in 2013.