Kuwait – Mubasher: KAMCO Investment’s profits hiked 111.6% in the first quarter of 2017.
Net profits reached KWD 285,990 ($937,060) in Q1-17 from KWD 135,150 ($442,820) during the same period of 2016.
The stock markets’ recovery contributed to the increase in the company’s profits in the first quarter, according to a bourse statement on Monday.
Operational profits skyrocketed 445.4% to KWD 707,320 compared to KWD 129,700 in Q1-16.
During the fiscal year of 2016, earnings surged 144.4% to total KWD 1.28 million from about KWD 523,690 in fiscal year 2015.
