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FINANCIAL NEWS
Kuwait’s Alafco posts $17.3m profit in 6 months
22 Apr 2010
(MENAFN) The Chairman of Kuwait-based Aviation Lease And Finance Company (ALAFCO) said that the company posted a 57 percent jump in profits during the first half of the current fiscal year to reach $17.3 million, Kuna reported.
He pointed out that the volume of operation profit had reach $32.2 million for the first half of the fiscal year which started last October, adding that it increased 51 percent from last year’s figures..
The chairman added that ALAFCO is progressing it its profit margin despite the advent of the worldwide economic crisis, said the official, adding that the company’s $1.5 billion assets would help ALAFCO to expand profit and income.
The amount of funds which the company garnered from banks and institutions worldwide in the last six months had reach $310 million, reflecting trust in ALAFCO’s mode of operation, said the official.
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