By: Mohamed Farouk
Mubasher: Kuwait Projects Holding (KIPCO) reported a 10% year-on-year (YoY) increase in profits during the second quarter of 2019 to KWD 7.1 million ($23.4 million) from KWD 6.42 million ($21.2 million).
Earnings per share rose by 11% in Q2-19 to stand at 4.88 fils, when compared to 4.40 fils during the same period a year earlier, according to KIPCO’s press release on Monday.
During the first half of 2019, the Boursa Kuwait-listed company’s net profit went up by 13% to KWD 13.58 million ($45 million), compared to KWD 12.06 million ($40 million) during the same period a year ago.
Earnings per share increased by 19% YoY to 7 fils in H1-19 from 5.9 fil per share.
KIPCO’s consolidated assets totalled KWD 10 billion in the first half of 2019, compared to KWD 10.4 by the end of 2018.
It is worth noting that during the first quarter of 2019, KIPCO logged an increase of 15% to KWD 6.5 million ($21.4 million) from KWD 5.6 million ($18.5 million) in Q1-18.
