Latest news with #Al-Safat
Kuwait Times
4 days ago
- Business
- Kuwait Times
Al-Safat Investment announces net profit of KD 4.65 million for H1 2025
Board of Directors approves a semi-annual cash dividend of 5% to shareholders KUWAIT: Al-Safat Investment Company announced net profits of KD 4.65 million for the first half of 2025, reflecting a strong financial performance that underscores the success of its strategy to restructure its investment portfolio, enhance operational efficiency, and manage liquidity effectively. This included exiting some non-strategic assets, focusing on high-yield, sustainable investments, expanding its client base through innovative and diversified investment solutions, and launching a market-making service for Kuwaiti-listed companies on Boursa Kuwait. In a historic step, the Board of Directors of Al-Safat approved a semi-annual cash dividend of 5 percent to shareholders for the first half of 2025. With this move, Al-Safat became the first listed Islamic investment company on Boursa Kuwait to adopt such an approach—affirming the strength of its financial position and management's confidence in its ability to generate sustainable profits. Al-Safat Investment Company Chairman Abdullah Al-Terkait stated: 'The adoption of semi-annual dividends for 2025 reflects the vision of Al-Safat's Board to enhance shareholder value and reinforce transparency and financial discipline. The company's management will continue to work towards sustaining this approach to deliver rewarding returns, strengthen stability, and support growth', he stated. On the operational front, the company's assets increased to KD 48 million by the end of the first half of 2025, compared to KD 44 million in the same period last year. Shareholders' equity also rose to KD 34 million from KD 29 million a year earlier—an encouraging indicator of the company's strong balance sheet and solid capital position. During the past period, the company completed several important steps, including exiting certain non-strategic investments and settling several legal and investment cases—positively impacting liquidity and financial strength. The strategic diversification of Al-Safat's portfolio—across sectors such as real estate, industrial, financial services, and technology, and across assets both inside and outside Kuwait—has played a key role in strengthening financial performance and reducing volatility, thereby supporting consistent returns and maximizing shareholder value through the achievements of the company and its subsidiaries. Notable achievements include the 'The Blue' Al-Ahmadi Craft Project of Dar Al-Safat, which reached an occupancy rate of 97 percent, thanks to effective leasing and real estate development policies. Subsidiaries also saw improved performance Synergy Holding Co (K.S.C.C.) moved from a net loss of KD 804.6 thousand in 2023 to a net profit of KD 59.7 thousand in 2024, supported by strong revenue growth. Shuaiba Industrial Co (K.S.C.C.) maintained strong profitability despite challenging market conditions through cost control, improved profit margins, and operational efficiency. Modern Printing & Publishing Co, a group subsidiary, achieved solid operational results with sales growth, improved profitability, and wider margins—demonstrating its focus on profitable and sustainable growth. Zak Solutions, one of Kuwait's leading technology service providers and an Al-Safat investment, recorded significant annual profit growth driven by improved efficiency and higher gross profit—bolstering financial stability and positioning it to capture future growth opportunities. Al-Safat is also expanding its review and pursuit of new government projects, in which it invests through its group companies, while enhancing its real estate portfolio in line with sustainable growth priorities and risk management. The company aims to continue its carefully planned investment expansion both locally and abroad, seeking new high-quality opportunities while adhering fully to Islamic Sharia principles in all operations and investments, and adopting best practices in governance, as well as social and environmental responsibility—reinforcing its role as a trusted and active investment partner in supporting development in Kuwait.
Kuwait Times
11-05-2025
- Business
- Kuwait Times
Al-Terkait: Al-Safat Investment Co records exceptional Q1 profit of KD 4.6 million
Company assets rose to KD 48.8 million KUWAIT: Al-Safat Investment Company announced exceptional financial results for the first quarter of 2025, with net profits surging to more than KD 4.6 million — a growth of over 4,244 percent compared to the same period in 2024. This reflects the success of the company's investment strategy and the restructuring of its financial portfolio. On this occasion, the company's Chairman Abdullah Hamad Al-Terkait stated that Al-Safat's positive shift was achieved thanks to the efforts of the team at all levels, working in an integrated and comprehensive manner over the past period to enhance the company's operations. By the end of Q1 2025, the company's total assets reached KD 48.8 million, compared to KD 43.7 million in the same period of 2024, while shareholder equity jumped to KD 39 million. Strategic transformation Al-Terkait explained in a press statement that, aside from recovering financial rights, the company's growth is the result of a comprehensive strategic transformation plan initiated in mid-2024. This included restructuring the asset portfolio, exiting unprofitable investments, and investing in high-growth sectors, in addition to improving operational efficiency and liquidity management. He noted that the company's sustainable growth plan includes several key strategic directions: Expanding client services by enhancing communication channels, offering personalized and innovative investment solutions, and broadening the investor base of individuals and institutions. Launching new investment divisions focused on alternative assets, direct investments, and sustainable projects, with plans to establish specialized funds in Gulf markets. Exploring acquisition and asset merger opportunities locally and internationally to maximize returns and diversify income sources and gradually exiting non-performing assets and redirecting their value to economically-viable investments. A new phase Al-Terkait affirmed that 'the Q1 results mark the start of a new phase of growth based on efficiency, innovation, and openness to promising markets,' stressing that Al-Safat is on a confident path to becoming one of the region's leading investment companies in the coming years. He added, 'Al-Safat's Q1 performance confirms that the company is on track to achieve its ambitious goals through effective management, a clear expansion vision, and dynamic engagement with market changes.' He expects the company to maintain strong performance in upcoming periods, supported by shareholder trust and the expertise of its executive team. Challenges and opportunities Al-Terkait noted that the recent period was filled with both challenges and opportunities, during which the company restructured its investments and implemented several financial and operational initiatives that strengthened its position in the investment sector. He emphasized that the company's forward-looking vision and strategic goals will lead to sustainable growth and increased shareholder value amid an ever-changing economic environment requiring continuous adaptation to local and global challenges. Key milestones He highlighted that the company maintained business stability and achieved major milestones, including exiting its investment in the Middle East Chemicals Manufacturing Company through a subsidiary. He also noted that Al-Safat successfully completed the transfer of all 'Cap Corp' investments after securing all regulatory approvals and settling legal disputes related to the company. In a step reflecting its commitment to protecting shareholder rights and maximizing returns, Al-Safat finalized all negotiations for a financial settlement with UAE-based Evolvence and Khalid Salem Al-Muhairi. The total settlement was valued at AED 160 million, with the company receiving the first installment of AED 60 million, which will positively impact Q1 2025 financials. Future outlook Al-Terkait stated that Al-Safat Investment aims for sustainable growth through a comprehensive strategy focusing on seizing promising investment opportunities and strengthening its investment position via diversification and expansion across various promising channels and sectors. Their outlook includes both local and international markets, as well as domestic partnerships aimed at boosting investment liquidity and enhancing professional expertise, all of which contribute to risk diversification — and reduction — to ensure maximum financial returns for shareholders. As part of its clear strategy, the company also plans to continue exiting investments that have reached their intended duration, while wisely deploying capital into projects compliant with Islamic Shariah principles. Al-Safat also seeks local expansion by entering new markets and exploring innovative investment sectors that support its development strategy. In this context, the company will research, study, and introduce new investment products tailored to meet changing market demands.
