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Kuwait’s KIPCO profit up 20 percent in Q2

24 Jul 2014

(MENAFN) Kuwait Projects Co (KIPCO), the Gulf state’s largest investment company, saw a 20 percent growth in the second quarter”s net profit, according to Arabian Business.

KIPCO said that its net profit reached USD40.4 million during the quarter compared to USD33.56 million in the same period 2013.

Analysts of Arqaam Capital expected the company to make a USD42.39 million net profit for the quarter.

KIPCO, a major regional investment house with stakes in media, industrial, financial and real estate companies, said first-half revenue boosted to USD1,020.9 million.

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