Kuwait Projects Co., the country's largest investment company, sounded a confident note on its full-year outlook after reporting a 5-percent increase for first-quarter profit on Tuesday.
KIPCO, a major regional investment house with stakes in media, industrial, financial and real estate companies, said it made net profit of 8.5 million dinars ($30.66 million) in the first three months of the year, compared with 8.1 million dinars a year earlier.
First-quarter revenue rose 16 percent to 108.4 million Kuwaiti dinars while consolidated assets grew to 6.1 billion dinars.
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