Kuwait Food Co. has reported an 8.7% increase in second-quarter profits, helped by higher sales.

In a filing to the Kuwaiti stock exchange, the firm, also known as American Group, reported a profit of KWD12.8m (US$45.1m) for the quarter.

Sales were up 5.9% to KWD238.7m. 

Americana is a Kuwaiti-based food manufacturer of California Garden beans and Farm Frites frozen vegetables, supplying products to supermarkets across the Middle East. It is also a franchise operator of a number of restaurants across the region.

According to Reuters in April, the Al Kharafi family that owns Americana was looking for a buyer for the business and had appointed investment bank Rothschild to approach potential buyers.

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By GlobalData