Mubasher: KAMCO Investment Company has announced the partial exiting from its fully-owned companies outside Kuwait, selling 45% of its stakes in these companies.
The effect of the deal will appear in KAMCO’s consolidated financial statements, according to a bourse statement released on Thursday.
The exiting transactions will be recorded in the company’s financial results in the second quarter of 2019.
The Boursa Kuwait-listed firm achieved a surge of 946.6% in profits during the fourth quarter of 2018 compared to the same period in the prior year.
Earnings grew to KWD 1.5 million ($4.95 million) in Q4-18 from about KWD 143,320 ($472,860) in Q4-17.
