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KIPCO on track to hit revenue goal
Kuwait Projects Co (Kipco), the Gulf state’s largest privately owned investment company, said it was on track to hit its target of a double-digit rise in revenue this year after reporting an 18 per cent increase in the first half.
Net profit in the second quarter to June 30 rose 20 per cent to $40.4 million, the company said. Arqaam Capital had expected Kipco to make a profit of KD12 million in the quarter.
KIPCO, a major regional investment house, said first-half revenue rose to KD289 million.
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