Kuwait’s IPG: KD 7.6 mln net profit in 2022

The Independent Petroleum Group (IPG) announced Thursday that it achieved net profits worth KD 7.6 million (some USD 23 million) in the fiscal year ending on December 31, 2022.

The company said in a statement, posted on Boursa Kuwait, that the earning per share stood at 42.3 fils, in contrast to 39.7 fils posted in the fiscal year that had ended on December 31, 2021 — with a 6.4 percent rise.

Its board recommended distribution of cash earnings to the shareholders at a rate of 30 percent of the share nominal value, at a rate of 30 fils per stock, and a total amounting to KD 5.4 million (USD 16.3 million).

IPG, founded in 1976, was listed in the Kuwaiti stock market in 1995, with an approximate capital of KD 18.8 million (USD 56.9 million).

Source: Kuwait News Agency

Categories