Mubasher: Independent Petroleum Group (IPG) achieved a slight growth of 1% in profits as registered in the preliminary income statements of the third quarter of 2017 compared to the same period a year ago.

Earnings increased to KWD 1.445 million ($4.8 million) in Q3-17 from KWD 1.431 million ($4.74 million) in Q3-16, according to a bourse filing issued on Tuesday.

During the first nine months of 2017, IPG is expected to achieve KWD 5.058 million profits compared to KWD 3.967 million in the same period a year ago; a year-on-year increase of 28.2%.

IPG reported earnings per share of 31.33 fils in the nine-month period this year, compared to 26.64 fils in the corresponding period a year ago.

The Boursa Kuwait-listed company stated that it will disclose, via Boursa Kuwait Company, the final financial statements after being audited in the coming two weeks.

At the stock level, IPG closed Tuesday’s session 4% higher at 365 fils.