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Kipco’s Q4 earnings up 75%

: Thursday, February 20 - 2014 @ 02:16

Kuwait Projects Co (KIPCO), the country’s largest private holding firm, has reported a 27% jump in its net profit last year to KD40.1m ($142.2m), compared with KD31.6m in 2012, AFP has reported. Fourth-quarter profit soared 75% to $50m from $28.4m in the same quarter a year earlier. “The very positive performance trends in all our core sectors – including banking, media, real estate and insurance – were evident in the growth and profitability of our companies,” said Kipco’s vice chairman, Faisal al-Ayyar.

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Thursday, February 20- 2014 @ 2:16 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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