KAMCO records rev­enue of KD 4.7m for H1 2017

Kuwait Times - - BUSINESS -

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.

Faisal Man­sour Sarkhou

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