Kuwait Projects Co (KIPCO), the Gulf state's largest investment company, reported a 17 percent rise in first-quarter net profit on Saturday. Net profit in the three months to March 31 was 12 million dinars ($40 million), compared to 10.3 million dinars in the same period last year, the firm said in a statement. KIPCO, a regional investment house with stakes in media, industrial, financial and real estate companies, said operating profits before provisions for the period rose to 37 million dinars from 34 million in the first-quarter of 2014.
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