Kuwait-Mubasher: Independent Petroleum Group (IPG) expected net profits to increase 69.8% in the first quarter of 2016 as compared to Q1-15, according to a statement.
The Kuwait-listed firm’s earnings are projected to reach KWD 1.231 million ($4.08 million) in Q1-16, compared to KWD 725,000 ($2.4 million) in the same quarter of 2015, the Sunday statement said.
The company forecasted its earnings per share to reach 8.51 fils in Q1-16 as compared to 5.01 fils in Q1-15.
IPG clarified that it will announce its audited financial statements for Q1 in the coming two weeks in a bourse statement.
