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KCIC reports KD1.12m in profit for H1 2013

Kuwait: Thursday, August 15 - 2013 @ 15:51

KCIC registered in Q2 earnings per share of 1.32 fils and a return on equity of 1.04%.

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

H1 2013 milestones:

1. KCIC continued to outperform Asian Equity benchmarks across most strategies
2. The Company developed its client infrastructure to allow for the scaling of the business
3. Marketing efforts broadened to include Asian clients
4. Developed timely and informed economic research on our target countries and markets.

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.

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Thursday, August 15- 2013 @ 15:51 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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