National Investments Reports Net Profit of 10.6 Million Dinars in Nine Months

Kuwait National Investments Company announced on Sunday that it achieved net profits of 10.6 million Kuwaiti dinars in the first nine months of the current year, representing earnings per share of 13.3 fils. In a press release, the company stated that total revenues during the period amounted to 25.1 million dinars, while total assets reached 360.7 million dinars at the end of last September. The statement added that the volume of assets under management stood at 1.4 billion dinars, and total equity attributable to shareholders of the parent company reached 212.8 million dinars at the end of last September. The company noted that net profit for the third quarter (the three months ended at the end of last September) was 3.6 million dinars, with earnings per share of 4.5 fils, while total revenues reached 9.4 million dinars. Quoting the statement, the company’s board chairman, Khaled Al-Fahad, said that the market developments witnessed during the current year highlighted the importance of flexibility in making investment decisions, risk management efficiency, and the ability to seize profitable opportunities. For his part, board member and chief executive officer Fahd Al-Muheizim said, according to the statement, that the company executed transactions during the first nine months of the current year whose total coverage value exceeded 2.5 billion US dollars.