Kuwait Food Co., the subject of takeover speculation, has posted an increase in profits for the third quarter of the year.
In a stock exchange filing, the frozen food maker – also known as Americana – said profit for the period ended 30 September was KWD10.9m (US$37.45m) compared with KWD8.2m for the same period last year.
The firm said the increase were due to a rise in operating income and a decrease in selling, general and admin expenses.
Sales were up 5% against last year at KWD218.2m.
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