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Faisal M Sarkhou, CEO of KAMCO
KAMCO records KD 3.02 million net profit in 2013; EPS 12.6 fils Co chalks revenue of KD 10.1m, AUM growth at 20%

KUWAIT CITY, March 2: KIPCO Asset Management Company — KAMCO, announces its financial results for the year ending on 31 December 2013.KAMCO posted a Net Profit of KD 3.02 million (Earning per Share of 12.6fils); compared to a Net Loss of KD 11.67 million in 2012 (Earnings per Share of — 48.9fils). KAMCO achieved KD 10.1million in Revenues in 2013 against KD 1.1 million in 2012 and also reduced its Debts by 27% to KD 29 million in 2013 as against KD 40 Million in 2012.  The year 2013 saw an increased focus on core operations, with the Operational Revenues &Profits growing considerably due to the excellent performance of all managed Equity Funds coupled with the growth in Assets Under Management (AUM). Total AUM increased to KD 2.9billion ($10.1 billion) in 2013, as compared to KD 2.4 billion ($8.4 billion) in 2012, posting a strong 20%growth.

On this occasion Faisal M. Sarkhou, CEO of KAMCO, said, “The results of 2013 reflect our growing focus on achieving operational excellence and on enhancing our AUM base and investment banking activities. We will continue to strive to grow our AUM further in the coming years by enhancing our existing products and launching new innovative &investor focused investment products and services. KAMCO’s investment banking team continues to hold a significant market share of completed major transactions, advising on a number of debt raising, restructuring and advisory transactions.”

Sarkhou continued, “Asstated in early 2013, by growing our focus on our core operational strengths, KAMCO has successfully turned to profitability in 2013and continued to improve on its leverage. As we continue to evolve with new products in our core business and by continuously reinforcingourkey resources, our team is confident to grow KAMCO’s activities and further develop its positioning as a market leader in the investment arena both in Kuwait and in the GCC region.” With respect to 2014, Sarkhou added, “We will continue to develop and launch new products and services to our growing client base and provide attractive and well-studied investment opportunities to our clients. Our focus will also remain on carefully balancing between risk and return on our products and services.”

Established in 1998 with the mission to become a leading local and regional investment company, KAMCO is today one of the leading Kuwait based investment companies. 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 15 years of conducting business in Kuwait’s dynamic investment industry, KAMCO has successfully established a robust reputation for performance, characterized by its prudent and conservative investment philosophy which has consistently commanded the goodwill of a wide client base.

KAMCO’s main activities are in Asset Management and Investment Banking.  Its Investments Division specializes in providing its clients with unique investment opportunities and alternative investment products, financial and advisory services, supported by investment research which tracks the latest directions and trends across local and regional economies and capital markets. The Asset Management Division concentrates on providing its clients with customized portfolio management and managed equity products, access to IPOs, local and international fund management with risk adjusted return maximization, mitigating risks, and maintaining capital appreciation for individual and institutional clients.

KAMCO operates within the spirit of transparency with the client’s best interests at heart. The company will further build upon its core competencies to offer MENA-wide products, investment management consultancy and services, backed by its proven track-record, successful investment product innovation and a measured investment approach towards local, regional and international capital markets.


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