KUWAIT: Kuwait Projects Co (KIPCO), the Gulf state's largest investment company, reported a 75 percent rise in fourth-quarter net profit on Tuesday, saying its pay-television company OSN had performed especially well.
Net profit in the three months to the end of December was 14 million Kuwaiti dinars or $49.7 million, compared to 8 million dinars in the same period last year, the group said in a statement.
KIPCO, a regional investment house with stakes in media, industrial, financial and real estate companies.
Added that its board had recommended a cash dividend of 20 percent and a 5 percent stock dividend. (Reuters)