Kuwait Aviation Fueling Company (KAFCO) predicts a 100 percent rise of profits in the current fiscal year, the General Manager Ahmad Al-Mudhef announced on Sunday.
Its sales of aviation fuel, in the second quarter of the 2014-2015 fiscal year, amounted to approximately 221.875 million liters compared to 194.313 million of the same period of time in 2013, with an increase of 27.562 million liters.
KAFCO is projected to post record earning, during the present fiscal year, with forecast positive impact on its net profits, also predicted to jump 100 percent to reach KD 10 million, in contrast to KD five million earned the previous year, the general manager told Kuwait News Agency (KUNA).
These positive results are due to the staff rigorous efforts, their abidance by the set plans, he said, indicating that the diligent and hard work had prompted the Royal Society for the Prevention of Accidents (RoSPA) to grant it the grand award. Al-Mudhef added that the internationally-renowned award was granted to KAFCO in appreciation for its good and sustainable safety and professional standards and measures.
KAFCO was formed on 1st July 1963, but its expansion started in the early 1970’s.
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