KAMCO records revenue of KD 4.7m for H1 2017
KAMCO Investment Company K.S.C. (Public), announces its financial results for the period ended on June 30th, 2017. The company recorded a net profit of KD 375,364 thousand with earnings-per-share (EPS) of 1.58 fils for the first half of 2017. Revenue reached KD 4.7 million, an increase of 18 percent compared to KD 3.9 million during the same period in 2016.
Total assets under management (AUM), reached KD 3.2 billion, with new money raised in funds and client portfolios.
Chief Executive Officer of KAMCO, Faisal Mansour Sarkhou, said, “KAMCO continues to enhance its operational performance strategy while capturing income-generating opportunities, benefiting both shareholders and investors.”
“These strategic actions were reflected in the performance of our investment funds, more specifically, the KAMCO Investment Fund (“KIF”), ranked as the best performing fund in Kuwait since the beginning of 2017, rose a notable 16% during the first half of the year based on the active and dynamic management of the fund; also KAMCO Real Estate Yield Fund, KAMCO’s flagship product in the real estate space, distributed $20 cents per unit during the period.”
Sarkhou added that in addition to the Company’s prominent funds, KAMCO acquired Amazon UK Services Ltd.’s largest distribution warehouse for approximately GBP61 million. During the first half of 2017, the Company also acted as Qurain Petrochemical Industries Company KSCP (“QPIC”) acquisition advisor in successfully acquiring 20.5 percent of National Petroleum Services Company KSCP (“NAPESCO”), in addition to acting as one of the Joint Lead Managers and Book Runners for Warba Bank K.S.C.P’s (“Warba”) Tier 1 Basel III compliant $250 million sukuk issuance.
KAMCO Investment Company is a premier investment company based in Kuwait, with an office in the Dubai International Financial Centre (DIFC). The Company is one of the leading investment banking firms in the Gulf region in terms of assets under management (AUM), and is regulated by the Capital Markets Authority.
Established in 1998 and listed on the Boursa Kuwait in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB). The Company has established itself as a regional leader in providing innovative products and services to its clients, enabling it to increase AUM to over $10.4 billion (as of 30 June 2017) and achieve a strong track record of 95 successful investment banking transactions worth around $15 billion (as of 30 June 2017).
With almost two decades worth of experience in conducting business with in investment industry, KAMCO has successfully established a robust reputation in the region, driven by its performance, prudent and conservative investment philosophy, solid business model and fundamental belief in implementing the highest standards of transparency, which has consistently commanded the goodwill of a wide and growing patron-base.
Through its strategy, the Company aims to continue building upon its core competencies to provide the MENA region with innovative investment management consultancy and services, in addition to financial services that meet the needs of clients through value-added investment products and a cautious investment approach that is supported by an experienced team and strong track record.