KUWAIT CITY, May 2: KAMCO (KIPCO Asset Management Company KSC) — amongst Kuwait’s premier asset management and financial services company - today reported its financial results for the first quarter ended 31st March 2010. The Company has posted a 306 percent growth in net profit to KD 1.02 million as compared to KD 0.26 million reported in FY09 Q1. This has engendered a 336 percent rise in earnings-per-share (EPS) to 4.27 fils from 0.98 fils during the same period last year.
These results are indicative of KAMCO’s prudence in risk mitigation, due diligence and intensive investment research — all of which characterize its long-established conservative investment strategy, rendering KAMCO well-positioned for volatility in a challenged economic climate. 
In the first quarter, KAMCO realized a net income of KD 1.02 million and total revenues of KD 3.43 million, with strong contributions from investment/trading income.
“These financial indicators reflect our potential for continued and sustainable growth despite a distressed financial and economic environment. Our first quarter results reiterate our reputation for solidity,” says KAMCO Managing Director and CEO Mr Sadoun Abdullah Ali. “We will continue to maintain a cautious approach towards local, regional and global capital markets, thereby endeavoring to optimize profitable returns for our shareholders.”
Having successfully secured the goodwill of shareholders and clientele alike over the past ten years of operations in Kuwait, KAMCO expanded its footprint into the Abu Dhabi market in 2008 despite the onslaught of the global financial turmoil. Going ahead, the Company aims to further increase its present portfolio of 873 institutional and individual investors, both locally and well as exploring opportunities in Saudi Arabia.
Established in 1998 with the mission to significantly alter the local and regional investment landscape, KAMCO is a premier investment company based in Kuwait. A subsidiary of United Gulf Bank (UGB) — the investment banking subsidiary of Kuwait Projects (Holding) Company (KIPCO) — KAMCO was listed on the Kuwait Stock Exchange (KSE) in 2003.
After eleven years of conducting business in Kuwait’s dynamic investment industry, KAMCO has successfully established a robust reputation for solidity, characterized by its prudent, conservative investment philosophy which has consistently commanded the goodwill of a wide patron-base.
KAMCO’s Asset Management Division specializes in customized portfolio management, forward trading, access to IPOs, and local and international fund management. The Investment Advisory and Investment Research Division tracks the latest directions and trends across regional and local economies as well as equity markets and offers a range of customized services that focus on maximizing returns, mitigating risks, and maintaining capital appreciation for individual and institutional clients.
The Company’s Financial Services and Investment Division offers a full range of advisory services on mergers and acquisitions, underwriting, private placements, debt issuance and restructuring, and private equity management.
In 2010, the Company will further aggressively build upon its core competencies to offer MENA-wide investment management consultancy and services, backed by its proven track-record in stringent risk mitigation, investment product innovation, and a cautious investment approach towards local, regional and international capital markets.