Kuwait-Mubasher: Independent Petroleum Group (IPG) predicted a 99.8% increase in net profit for the second quarter of 2016, reaching KWD 1.3 million ($4.296 million), compared to KWD 726,000 ($2.3 million) in the same period of last year.
Earnings per share are expected to reach 9.02 fils per share compared to only 5.01 fils last year, according to the company’s statement to the Kuwait Stock Exchange (KSE) on Monday.
Profits for the first half are expected to reach KWD 2.535 million ($8.352 million) compared to KWD 1.451 million ($4.780 million) in the same period of 2015.
