Mubasher: KAMCO Investment Company reported a 470.5% year-on-year surge in profits during the first quarter of 2019.
KAMCO’s profits reached KWD 577,670 ($1.91 million) in Q1-19, up from KWD 101,260 ($334,030) in Q1-18, according to a statement to Boursa Kuwait on Monday.
The firm ascribed the big rise in Q1-19 profits to an increase in fee revenues, along with a growth in KAMCO’s profit stake from an associate.
The Boursa Kuwait-listed firm also said that profits levelled up due to a rise in the revenues of cash dividend distributions, combined with higher interest revenues.
In 2018, KAMCO logged a profit of KWD 2.56 million, up from KWD 1.14 million in 2017.
