National Petroleum Services (Napesco) achieved an increase of 79.2% in profits during the fourth quarter of 2018 compared to the same period a year ago.
Earnings grew to KWD 3.62 million ($11.93 million) in Q4-18 from KWD 2.02 million ($6.66 million) in Q4-17, according to a bourse disclosure on Sunday.
During fiscal year 2018, Napesco recorded a surge of 17.7% in profits to KWD 11.79 million from KWD 10.02 million in FY17.
Napesco noted that the increase in profits is attributed to higher sales in FY18.
The board members of Napesco recommended 70% of capital as cash dividends for FY18 or 70 fils per share at a total value of KWD 6.8 million.