KAFCO earns KD 11.5 mln (2013-2014)
Kuwait Aviation Fueling Company (KAFCO) earned nearly KD 11.5 million in the 2013-2014 fiscal year ending on March 31, announced the General Manager Ahmad Al-Mudhef on Monday.
Earnings rose to KD 3.22 million during the 2013-2014 fiscal year, some 37.7 percent, as compared to the previous financial year, he said in an exclusive statement to KUNA, noting that the profits’ hike was result of slashing operational expenditures and expanding marketing of the aviation fuel.
Total actual spending amounted to KD 11.78 million, as compared to KD 12.53 million of the previous fiscal year.
Sales of JP8 (for “Jet Propellant 8”) and (Jet A-1) fuels dropped in the 2013-2014 fiscal year, reaching approximately 736.98 million liters in contrast to 748.42 million liters in the 2012-2013 fiscal year, falling by 1.1 percent.
KUNA Kuwait News agency