Publication Date:
Sun, 2011-05-01 19:35
KIPCO’s total revenues for the first three months of 2011 increased by 18 percent to KD93.2 million ($336.2 million) from KD78.8 million ($273 million) in the first quarter of 2010.
The company also reported a rise in operating profit to KD18.2 million ($65.6 million) for the first quarter of 2011 — an increase of 22 percent from the KD14.9 million ($51.6 million) in the first quarter of 2010.
KIPCO’s consolidated assets decreased in the first quarter of 2011, to KD5.52 billion ($19.9 billion) from KD5.66 billion ($20.2 billion) for the year-end 2010.
A top official said KIPCO’s first quarter results were in line with the expectations voiced by the company at its recent Investor’s Forum.
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