Kuwait's KIPCO posts 19% rise in Q4 profit

  • Share via facebook
  • Tweet this
  • Bookmark and Share
OSN is a unit of Kuwait Projects Co

OSN is a unit of Kuwait Projects Co

Kuwait Projects Company (KIPCO), the country's largest investment company by assets, reported a 19 percent rise in fourth-quarter net profit and said its media sector in particular had boosted earnings in 2012.

KIPCO made KD7.6m ($26.9m) in the three months to the end of December compared to KD6.4m in the same period the year before, it said in a statement.

The result missed the estimate of EFG Hermes, which expected a profit of KD10m.

For the full year, the firm made KD31.3m in 2012 compared to KD30m in 2011.

Profits rose in all of the company's core sectors, with its broadcast company OSN showing a significant improvement, the statement added.

KIPCO said its board had recommended a dividend of 0.02 dinars per share and five bonus shares for every 100 held.


Market Performance

Kuwait Projects Company - Kuwait
10.0 1.64 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Some banks win, some lose in Dubai's 'Islamic economy'

Some banks win, some lose in Dubai's 'Islamic economy'

Dubai's gov't announced plans to turn the emirate into a global...

Coming to America

Coming to America

As Barack Obama seeks to rebalance the bloated US economy, the...

Should the Gulf introduce VAT?

Should the Gulf introduce VAT?

The GCC’s plans to bring in value-added tax were withdrawn as...

Most Discussed