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Tuesday , October 20 2020

Decline seen in KPC investment profits

KUWAIT CITY, Feb 9: A government document showed decline in profits from the investment portfolio of Kuwait Petroleum Company (KPC) by $1.049 million – 72.8 percent – during the fiscal year which ended in March 2019, reports Annahar daily.

The document also revealed that the company earned a profit of $152 million from selling bonds but it incurred losses due to selling shares at the same value and the differences in currencies – from $235 million to $77 million (148.7 percent loss). The net profits of the portfolio reached $391 million, lower by $1.049 million compared to the previous year.

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