The financial statements of Kamco Investment Company (Kamco Invest) showed the company's transformation to profitability in the first half of this year compared to losses for the same period in 2020.
According to the company's results for the Kuwaiti Stock Exchange, today, Wednesday, profits for the period amounted to 6.31 million dinars, compared to losses in the first half of 2020 of 3.89 million dinars.
The company said in a statement to the stock exchange that the improvement in results during the comparative periods is mainly due to the increase in net profit from financial assets listed at fair value through profits and losses, and the company's share in Profits generated from associate companies.
The company's total operating income in the first half of this year amounted to about 57.25 million dinars, compared to 48.53 million dinars in the same period last year, an increase of 18% .
The company achieved profits of 4.76 million dinars in the second quarter of this year, a significant increase of 547.3 percent over its counterpart in the comparable quarter of last year, amounting to approximately 734.66 thousand dinars.
Kamco Invest turned profitable in the first quarter of this year with a value of 1.55 million dinars, compared to the same period in 2020 of 4.62 million dinars.
