Kuwait – Mubasher: Kuwait Projects Holding (KIPCO) achieved a growth of 8.2% in the second quarter’s profits as compared to the same period in the previous year.
KIPCO’s earnings grew to KWD 14.51 million ($47.9 million) in Q2-16 from KWD 13.41 million ($44.3 million) in Q2-15, according to a bourse statement.
During the first half of 2016, profits increased by 10.3% to KWD 28.01 million from KWD 25.4 million.
The rise in profits resulted from a growth in revenues and operating profits after provisions of the main firms of the group, the statement noted.
KIPCO’s stock levelled up 2% to 530 fils, after about 692,800 shares were traded at a value of around KWD 362,430.
