Kuwait – Mubasher: National Petroleum Services Company (Napesco) posted a 93.2% year-on-year rise in its profits during the fourth quarter of 2016, according to a bourse filing.
Profits reached KWD 1.99 million ($6.5 million) in Q4-16, compared to KWD 1.03 million ($3.67 million) in Q4-15.
The company generated profits of KWD 7.71 million in 2016, up 35.6% from KWD 5.69 million in 2015.
Higher annual profits resulted from the rise in sales volume, the company said.
The board proposed to distribute 80% cash dividends or 80 fils per shares, in addition to 73.58% bonus shares, totalling 4.24 million for fiscal year 2016.
