Mubasher: Kuwait Company for Process Plant Construction and Contracting (KCPC) reported a growth of 31.6% in profits during the fourth quarter of 2017 compared to the same period in the prior year.

Earnings increased to KWD 858,000 ($2.86 million) in Q4-17 from KWD 652,000 ($2.18 million) in Q4-16, according to a bourse statement on Tuesday.

During fiscal year 2017, KCPC achieved a rise of 95% in profits to KWD 2.34 million compared to KWD 1.2 million in FY16.

The increase in FY17 profits is attributed to higher operating income, KCPC added.

The board of directors recommended a cash dividend of 10% or 10 fils per share to the entitled shareholders.