Mubasher: Independent Petroleum Group (IPG) has projected a growth of 40.1% in profits during the first quarter that ended 31 March 2017, compared to the same period of 2016.
IPG expects profits worth KWD 1.724 million ($5.65 million) in Q1-16 from KWD 1.231 million ($4.03 million) in Q1-15, according to a bourse statement issued on Sunday.
The company forecast earnings per share to increase to 11.91 fils in Q1-16 from 8.51 fils in Q1-15.
During FY16, profits rose by 31.8% to KWD 5.01 million from KWD 3.8 million in FY15.
At the stock level, IPG closed Sunday’s session 2.44% lower at 400 fils.
