KIPCO announces KD 28 mln net profit in 1st half of 2016Source: www.export-egypt.com 7/27/2016, Location: Middle East |
|
|
|
|
 KIPCO, the Kuwait Projects Company, has announced a net profit of KD 28 million (USD 93 million) in the first six months of 2016, an increase of 10 percent on the KD 25.4 million (USD 84.2 million) reported for the same period last year.
Earnings per share increased 13 percent in the first half of the year, standing at 18.3 fils (USD 6.06 cents) from 16.2 fils (USD 5.4 cents) per share reported for the same period in 2015, KIPCO said in a press release. In the second quarter (the three months ended 30 June, 2016), KIPCO made a net profit of KD 14.5 million (USD 48.1 million), up 8 percent from the KD 13. 4 million (USD 44.4 million) profit reported in the same period of 2015. KIPCO's total revenue for the first six months of 2016 increased 8 percent to KD 328 million (USD 1.1 billion) compared to the KD 304 million (USD 1.01 billion) for the first half of 2015. KIPCO's consolidated assets increased to KD 10 billion (USD 33 billion) in the first half of 2016, from KD 9.6 billion (USD 32 billion) at year-end 2015. Masaud Hayat, KIPCO's Chief Executive Officer - Banking, said the company's results in the first half of the year reflect the growth its core businesses are achieving, in line with KIPCO's objectives for the year. "While the economic circumstances in the region remain challenging, our core companies have continued to grow their revenue. This reflects our companies' sound planning and their ability to work and deliver despite difficult trading conditions. In the remaining months of 2016, we expect to stay on track to deliver our year-end target of growth in the high single digit." |
|
|
Financials and Investment News in Kuwait >> |
 |
|||||
|
Egypt >> 11/21/2024 - An International Monetary Fund (IMF) mission led by Ivanna Vladkova Hollar wrapped up in-person discussions with Egyptian authorities in Cairo regardi...
|
Egypt >> 11/21/2024 - The Engineering Export Council of Egypt (EEC) revealed that engineering industry exports increased by 25.6 percent from January to September, reaching...
|
|
Egypt >> 11/20/2024 - Prime Minister Dr. Mostafa Madbouly held a meeting this morning at the government headquarters in the New Administrative Capital with Mr. Chang Won Sa...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouly, with Mahmoud Esmat, Minister of Electricity and Renewable Energy Minister, and Sultan Al Jaber, UAE Ministe...
|
|
Egypt >> 11/20/2024 - Egypt and Australia have seen a significant surge in their bilateral trade relationship, with the trade volume increasing from $270 million in 2015 to...
|
Egypt >> 11/20/2024 - Egyptian Prime Minister Moustafa Madbouli chaired the Cabinet’s weekly meeting in the New Administrative Capital.
The Cabinet is set to add... |
| Kuwait Oil & Gas 1 >> 2 | 3 | 4 | 5 | |
