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Kuwait Times
a day ago
- Business
- Kuwait Times
KIPCO reports a net profit of KD 10.2 million for H1 2025
KIPCO reports a net profit of KD 10.2 million for H1 2025 'Continued increase in operating profit, revenue reflects success of our strategy' KUWAIT: KIPCO – Kuwait Projects Company (Holding) – reported a record operating profit of KD 88.7 million ($290.5 million) for the first six months of 2025, a 9.9 percent increase from the KD 80.8 million ($264.6 million) reported for the corresponding period in 2024. Operating revenue also increased 6 percent to reach KD 769.1 million ($2.52 billion), up from KD 725.5 million ($2.38 billion) reported for the same period last year. The increase reflects the enhanced performance of KIPCO's operations in logistics and oil services, as well as the steady results of the banking, foodstuff, education and real estate businesses. KIPCO's net profit for the first six months of 2025 came to KD 10.2 million ($33.4 million), compared to KD 11.2 million ($36.7 million) reported in the first half of 2024. Earnings per share for the first half of 2025 was at 1.3 fils ($0.43 cents). In the second quarter of 2025 (the three months ended June 30, 2025), KIPCO's operating profit increased to KD 38.4 million ($125.7 million) from KD 37.0 million ($121.3 million) reported for the corresponding period of 2024. KIPCO reported a net profit of KD 5.0 million ($16.4 million) for the three-month period, compared to KD 5.3 million ($17.4 million) for the corresponding quarter in 2024. KIPCO's total revenue from operations for the three months came to KD 385.5 million ($1.26 billion), an increase of 3.2 percent from the KD 373.7 million ($1.22 billion) reported in the second quarter of 2024. Shareholders' equity went up 2.5 percent to KD 649.7 million ($2.13 billion) compared to KD 633.9 million ($2.08 billion) at the end of 2024. KIPCO's consolidated assets at the end of the first six months of 2025 stood at KD 13.5 billion ($44.2 billion), up from the KD 13.0 billion ($42.6 billion) reported at the end of 2024. Commenting on the results, Sheikha Dana Naser Sabah Al-Ahmad Al-Sabah, KIPCO's Group Chief Executive Officer, said: 'KIPCO's results for the first half of 2025 attest to the success of our strategy and efforts focused towards strengthening the operating and financial performance of key Group companies, as reflected in the 10 percent increase in our operating profit and the 6 percent increase in operating revenue. It is also evident in the robust operational outcomes across our key sectors, including banking, foodstuffs, oil services, logistics, real estate and education. These accomplishments underscore our ongoing commitment to driving growth and creating long-term value for our stakeholders.'
Kuwait Times
16-05-2025
- Business
- Kuwait Times
KIPCO reports net profit of KD 5.1 million for Q1 2025
KIPCO reports net profit of KD 5.1 million for Q1 2025 'We remain focused on creating greater value for our stakeholders' says company's Group CEO KUWAIT: KIPCO – Kuwait Projects Company (Holding) – announced a net profit of KD 5.1 million ($ 16.5million) for the first three months of 2025. Earnings per share for the first quarter of 2025 were 0.7fils ($0.2 cents). The decrease in KIPCO's overall net profit from KD 5.8 million ($18.8 million) reported in the first quarter of 2024 is mainly attributed to the increase in credit provisions at banking subsidiaries. In the first three months of 2025, operating profit increased 15 percent to KD 50.3 million ($163.1 million) from KD 43.7million ($141.7million) reported for the same period last year. The increase reflects the enhanced performance of our banking business, petrochemical services and logistics. In the first quarter of the year, KIPCO's total revenue from operations came to KD 383.6million ($1.24 billion), an increase of 9 percent from the KD351.8 million ($1.14billion) reported in the corresponding period of 2024. Shareholders equity went up 1.1 percent to KD 641.0million ($2.08 billion) compared to KD 633.9million ($2.06 billion) at the end of 2024. KIPCO's consolidated assets came to KD 13.3 billion ($43.1 billion) at the end of the first three months of 2025, up from the KD 13.0 billion ($42.1 billion) reported at the end of 2024. Commenting on the results, Sheikha Dana Naser Sabah Al-Ahmad Al-Sabah, KIPCO's Group Chief Executive Officer, said: 'In our recent Annual General Meeting, we underscored our commitment to achieve stable and growing positive cashflows through ensuring future sustainable dividend distributions from our businesses. The results for the first quarter of 2025 reflect KIPCO's continued efforts ensure sustainable growth through the streamlining of operations, enhancing the performance of portfolio companies and strengthening the holding company's capital structure as we continue to focus on creating greater value for our shareholders.'
