Kuwait – Mubasher: KAMCO Investment said it expects to achieve a net profit of GBP 500,000 (KWD 195,000) from selling a controlling stake in a UK property leased to Amazon UK Services Ltd.
These profits will be registered in the company’s consolidated net income statement, KAMCO added in a statement to Boursa Kuwait on Sunday.
Last week, the Kuwaiti investment company announced selling a controlling stake in the same UK property, leased to Amazon UK Services Ltd and special purpose companies, at GBP 25.3 million (KWD 10 million).
The Kuwaiti company last reported that its profits surged 111.6% to reach KWD 285,990 in the first quarter of 2017, up from KWD 135,150 in Q1-16.
By the end of trading on Sunday, KAMCO’s stock declined 2.5% to 78 fils, achieving traded value of KWD 3,800 after 50,030 shares were exchanged.
