Kuwait Projects Company (Holding) announced today that it achieved a net profit of KD 10.4 million ($33.9 million) in the first half of 2023, an increase of 89% compared to KD 5.5 million ($17.9 million) during the same period last year.
Earnings per share during this period amounted to 1.5 fils per share (0.5 US cents), compared to 0.8 fils per share (0.3 US cents) in the corresponding period of 2022.
As for the second quarter of the year (for the three months ending on June 30, 2023), the company achieved net profits of KD 5.2 million ($16.9 million) compared to KD 2.2 million ($7.2 million) during the second quarter of last year, recording an increase. by 136%.
During the second quarter, the company achieved consolidated revenues of KD 595.5 million ($1.9 billion), an increase of 81% compared to the second quarter of 2022, which amounted to KD 329.2 million ($1.1 billion).
As for the total consolidated assets, at the end of the first half of the year, it amounted to 11.9 billion Kuwaiti dinars (38.8 billion US dollars), an increase of 4% compared to 11.4 billion Kuwaiti dinars (37.1 billion dollars) as at the end of 2022.
