KCIC reports KWD 1.12 million in profit for H1 2013

16/08/2013 07:48 AST

KCIC, which specialises in investments in domestic demand-driven sectors in Asia, today announced a net profit of KWD 940,250 for the second quarter of 2013, bringing the company's earnings for the first half of 2013 to KWD 1.12 million.

"KCIC registered in Q2 earnings per share of 1.32 fils and a return on equity of 1.04 per cent," said a media statement. "Total revenues for the second quarter reached KWD 3.23 million, which resulted in total revenues of KWD 4.52 million for the first half of the year, a 5.85 per cent increase in comparison to the first half of last year when the company reported revenues of KWD 4.27 million."

KCIC Vice Chairman and CEO, Ahmad Abdlatif Al-Hamad, said, "Although the first half of the year witnessed increasing volatility and high uncertainty in global economies and in turn global markets, KCIC remains committed to maintain its focus on high quality investment opportunities in robust businesses across the region. As a testament to this, we managed to complete a funding round for one of our flagship investments during one of the most difficult fund-raising periods. We remain optimistic that Asia will continue to evolve towards establishing its internal markets which will transform their economies to a more sustainable growth model."

CPI Financial