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FINANCIAL NEWS
Kuwait’s Kipco reports USD23.4m profit in Q3
05 Nov 2012
(MENAFN) Kuwait Projects Company (Kipco) reported a 7 percent decline in quarterly profit, Reuters reported.
The country’s largest investment company by assets earned USD23.4 million net profit during the third quarter, down from USD25.15 million a year earlier.
Kipco also reported a 0.4 percent increase in profits during the first three quarters of 2012 to USD84.3 million from USD83.6 million a year earlier.
Founded in 1975, the group has significant ownership interests in a portfolio of over 70 companies operating across 26 countries.
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