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FINANCIAL NEWS
Kuwaiti URC’s profit hikes 223% in H1
12 Aug 2012
(MENAFN) Kuwaiti United Real Estate Company (URC) stated that during the January-June period, its net profit soared by 223 percent form last year’s same period, reported Kuwait News Agency (KUNA).
The company said it made USD57.94 million during the first half of the year, attributing the increase to the sale of one of the firm’s real estate investments in Lebanon.
The company added that Interest Coverage Ratio in the first 6 months of 2012 grew to 6.1, compared with 2.9 in the same period a year earlier.
It is worth noting that URC’s shareholders’ equity went up by 7.9 percent, reaching USD731.34 million.
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