Kuwait Projects Co., the country’s biggest privately owned investment company, said first-half profit rose fourfold on increased growth in commercial banking and insurance.
Net income rose to 16.6 million dinars ($60.7 million), or 14.04 fils per share, from 4.2 million dinars, or 3.58 fils a share, a year earlier, the company known as Kipco said in an e- mailed statement today.
Second-quarter profit rose to 8.5 million dinars from 2.2 million dinars a year earlier, the company said.
To contact the reporter on this story: Fiona MacDonald in Kuwait at firstname.lastname@example.org.
To contact the editor responsible for this story: Shaji Mathew at email@example.com.