Kuwait's Kipco Q3 net profit down 7 pct - statement

DUBAI Mon Nov 5, 2012 6:11am EST

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DUBAI Nov 5 (Reuters) - Kuwait Projects Company (Kipco), the country's largest investment company by assets, posted a 7 percent drop in third-quarter net profit, it said in a statement on Monday.

The firm made 6.6 million dinars ($23.4 million) in the three months to September 30, versus 7.1 million dinars in the same period last year, the statement said.

Net profit for the first nine months of 2012 stood at 23.7 million dinars, a 0.4 percent increase on the 23.6 million dinars reported for the same timeframe in 2011, it added. ($1 = 0.2818 Kuwaiti dinars) (Reporting by David French; Editing by Rachna Uppal)