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KAMCO posts Q2 net profit of KD 0.42 mln Kuwait Investment Co earns KD 5.22 mln

 KUWAIT CITY, Aug 12: KAMCO announced its financial results during the second quarter for the period ended on June 30, 2014. The Company recorded a net profit of KD 0.42million with earnings-per-share (EPS) of 1.76 fils in the second quarter. Thus making the first half 2014 profit KD 1.3 million with earning-per-share (EPS) of 5.34 fils. During the second quarter, equity markets became cautious due to regional political factors, however KAMCO continued to maintain the growth in AUM and registered an increase of 22% by Half Year 2014 over the previous year. The new AUMs represented over 38% of the increase.

KAMCO also launched its Real Estate Yield Fund with an initial subscription of over $20m. Faisal Mansour Sarkhou, CEO of KAMCO said, “The uncertainty in equity markets during the second quarter slowed down the progress in the AMIB domain across the region, but KAMCO continued to improve its core operational profits over the last year. We are confident of our growth strategy that is based on our core AMIB business and are looking forward to an improved second half for the year.” Sarkhou added, “We are continuing our efforts to launch new investment funds and are actively pursuing new investment banking deals which should yield consistent returns in the future.”

Kuwait Investment Co announced on Tuesday its profits for the first six months of this year which came to KD 5.22 million, raising the price per share profitability by 9.52 Fils. The total amount of shareholder’s funds with the company for the same period was KD 132.3 million, said the company announcement on the electronic website of KSE. Total assets were KD 259.7 million and total liabilities came to KD 99.4 million for the first six months of the current year. Kuwait Investment Co was established in 1961 with a paid capital of about KD 55 million and deals primarily in the investment sector in and outside of Kuwait.
 
Al-Ahlia Insurance Co announced on Tuesday its profits for the first six months of this year which came to KD 5.9 million, raising the price per share profitability by 30.1 Fils. The total amount of shareholder’s funds with the company for the same period was KD 94.4 million, said the company announcement on the electronic website of KSE. Total assets were KD 162.7 million and total liabilities came to KD 68.3 million for the first six months of the current year. A-Ahlia Insurance Co was established in 1962 with a paid capital of about KD 20 million and deals primarily in the insurance business.
 
Bayan Investment Co announced on Tuesday its profits for the first six months of this year which came to KD 3 million, bringing the price per share to 8.56 Fils. The total amount of shareholder’s funds with the company for the same period was KD 37.2 million, said the company announcement on the electronic website of KSE. Total assets were KD 92 million and total liabilities came to KD 39.9 million for the first six months of the current year. Bayan Investment Co was established in 1997 with a paid capital of KD 39.2 million and deals primarily in the investment sector in and outside of Kuwait.

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