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FINANCIAL NEWS
Kuwait’s KIPCO reports 19% jump in Q4 profit
22 Feb 2013
(MENAFN) Kuwait Projects Company (KIPCO) announced that its net profit climbed by 19 percent in 2012’s last quarter from the same period in 2011, reported Arabian Business.
KIPCO said that quarterly profit reached USD26.9 million in 2012, up from USD22.58 million in the fourth quarter a year before.
Kuwait’s biggest investment firm by assets said that results were mainly driven by the strong performance of its media sector.
It is worth noting that profit for full 2012 rose to USD110.45 million, compared with USD105.86 million for full 2011, with profit growing at all of KIPCO’s sectors, especially its broadcast company OSN.
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