Kipco’s Q4 earnings up 75%

February 20, 2014 2:16 am

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.