KCIC's net expands in H1 2013

18/08/2013 07:42 AST

KCIC, which specializes in investments in domestic demand-driven sectors in Asia, registered a net profit of KD940,250 for the second quarter of 2013, bringing the company's earnings for the first half of 2013 to KD1.12 million. KCIC registered in Q2 earnings per share of 1.32 fils and a return on equity of 1.04 percent.

Total revenues for the second quarter reached KD3.23 million, which resulted in total revenues of KD4.52 million for the first half of the year, a 5.85 percent increase in comparison to the first half of last year when the company reported revenues of KD4.27 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."

Listed on the Kuwait Stock Exchange, KCIC invests in domestic demand-driven sectors in Asia, namely energy, real estate, healthcare, infrastructure, and financial services.

Saudi Gazette