KAMCO's net profit of 1.1 million KD in 6 months – Daily political Kuwaiti

KAMCO has announced its financial results for the six months ended June 30, 2019. KAMCO recorded a net profit of 1,110,320 dinars in the first half of 2019, a growth of 163% compared to 421,407 dinars for the same period in 2018. Earnings per share 4.68 yrs against 1.77 yen at the same period last year. EBITDA increased to 4.15 million dinars during the reporting year, an increase of 278 percent compared to 1.10 million dinars for the same period in 2018. Revenue from fees also increased increased to KD 8.68 million, a growth of 130%, compared to 3.8%. Millions of euros in the first half of 2018. While the total revenues for the first half of 2019 amounted to 13.29 million dinars, a growth of 178% compared to 4.8 million dinars in the first half of 2018.
Assets under management amounted to 4.16 billion KD, taking into account the acquisition of the majority stake in Global Investment House (Global), in addition to the company's success in attracting more investors. 39 investments in mutual funds and client portfolios. "We continue to see positive momentum during the early stages of implementing the plan for growth and strategic expansion," said Faisal, Kamco's Managing Director. This dynamic reflects the impact of our growing investments in the various business segments and the significant progress made in the transformation efforts to achieve our long-term growth objectives. Although we had costs to implement the expansion plan, which naturally led to higher expenses, we also managed to boost our earnings growth by 163% compared to the first half of the year. 2018. "During the first half of the year, our most notable achievements include the outstanding performance of the KAMCO-managed mutual funds and portfolios, which has generated net returns of 17.64% since beginning of the year, exceeding the benchmark performance of 17.07% as of June 30, 2019.
"During the second quarter of 2019, KAMCO participated as co-manager of the Sukuk Sukuk of the International Bank of Kuwait for $ 300 million in the first additional tranche of core capital.