FINANCIAL NEWS

Kuwait’s KCIC posts USD14.87m Jan-Sep net profit

05 Nov 2012

(MENAFN) Kuwait China Investment Company (KCIC) announced that during the January-September period, the company’s net profit grew to USD14.87 million, reported Kuwait News Agency (KUNA).

KCIC, which was established in 2005 as a shareholding firm with a total capital USD280 million, said that the figure is compared with a loss of USD38.96 million in last year’s same period.

Shareholders’ equity increased to USD292.56 million, compared with USD270.60 million in 2011’s same period.

It is worth noting that total assets reached USD326.56 million, liabilities USD22.31 million, compared with USD29.75 million in the same period a year earlier.

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