FINANCIAL NEWS

Kuwait’s KIPCO reports USD30.4m profit in Q2

06 Aug 2012

(MENAFN) Kuwait Projects Company (KIPCO) reported 0.9 percent increase in quarterly profits on improved financial services business, Reuters reported.

Kuwait’s largest investment company said it made USD30.42 million during the second quarter, up from USD30 million achieved a year earlier.

KIPCO said its financial services business was showing improvements while its real estate and media sectors were also meeting the company’s expectations for 2012.

KIPCO, which has investments in media, industrial, financial and real estate companies, was positive about its outlook for the latter half of 2012.

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