Mubasher: National Petroleum Services (Napesco) registered a decline of 2.6% in profits during the first quarter of 2018 compared to the same period in the prior fiscal year.

Earnings narrowed to KWD 2.25 million ($7.47 million) in Q1-18 from KWD 2.31 million ($7.67 million) in Q1-17, according to a bourse filing on Monday.

The drop in Q1 profits is attributed to a decline of 3.5% in revenues from January to March 2018.