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Kuwait's KIPCO Q1 net profit falls 49 pct

KUWAIT, May 10 (Reuters) - Kuwait Projects Co (KIPCO), Kuwait's largest investment firm, reported a 49-percent fall in first-quarter net profit on Monday. KIPCO made net profit of 4.7 million dinars ($16.32 million) in the first three months to March 31, compared with 9.2 million dinars in the same period last year, it said in a statement to the bourse on Monday. Earnings per share in the first quarter was 4.2 fils per share, compared with 8.3 fils per share a year earlier. There are 1,000 fils in a dinar. (Reporting by Eman Goma; Editing by Amran Abocar) ($1=.2880 Kuwaiti Dinar) Keywords: KIPCO EARNINGS/ (eman.goma@thomsonreuters.com, +965 2240 89 45, Reuters Messenger: eman.goma.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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