Mubasher: National Petroleum Services (Napesco) achieved a growth of 2% in profits during the fourth quarter of 2017 compared to the same period in the prior year.
Earnings increased to KWD 2.02 million ($6.75 million) in Q4-17 from KWD 1.98 million ($6.62 million) in the same period a year earlier according to a bourse statement on Tuesday.
During fiscal year 2017, Napesco reported an increase of 30.1% in profits to KWD 10.02 million compared to KWD 7.7 million in FY16.
Napesco clarified that the growth in profits is attributed to higher sales.
The board members have recommended a cash dividend of 60% of par value or 60 fils per share for FY17.
