Kuwait's largest listed investment company says it expects double-digit growth to continue during 2014
Kuwait Projects Co (KIPCO), the Gulf state's largest listed investment company, reported a 20 percent rise in first-quarter profit on Wednesday.
KIPCO made a profit of KD10.3 million ($36.70 million) in the three months to March 31, up from KD8.6 million in the year-earlier period, the company said in a statement.
KIPCO's first-quarter revenue rose 19 percent to KD137 million.
"Our first-quarter results reflect the continued double-digit profit growth that we expect from the company's core businesses in 2014," Tariq AbdulSalam, KIPCO's CEO for Investments, said in the statement.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.