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FINANCIAL NEWS
KIPCO reports 11 percent profit increase in Q2
27 Aug 2013
(MENAFN) Kuwait Projects Co (KIPCO) announced 11 percent increase in net income in the three months period ended June 30, Arabian Business reported.
The company’s net profit for the period was USD33.4 million versus USD30.2 million in the same period of last year. The company said it is moving towards a double digit jump in revenue in 2013.
KIPCO, Kuwait’s largest investment company by assets, which has stakes in media, financial, real estate and industrial firms, reported revenues of USD1 billion in the first half of this year registering a 23 percent increase from the prior-year period.
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