Kuwait Food Co net profit up 10.4 percent in Q1

(MENAFN) Kuwait Food Co, which sells goods under the Americana brand name, posted a 10.4 percent growth in its net profit for the first three months of the current year, according to Arabian Business. The company"s net profit for the first quarter was estimated at USD64.4 million compared to USD58.205 million during the same quarter a year earlier. Americana, 66.8 percent owned by the Kharafi family, one of the largest merchant families in the Gulf Arab state, could be sold after the Kharafis hired an investment bank to explore a sale.