Kuwait investment company posts Q1 profits of dinar 4.2m

Kuwait Investment Company (KINV) recorded net profits of KD 4.2 million (USD 14.9 million) for the 1st Quarter of 2014 compared to KD 2.28 million in the same period last year. Shareholders' total equity reached KD 136.2 million for the past three months compared to KD 114.2 million in the same period last year, KINV said in a statement on the website of the Kuwait Stock Exchange (KSE) on Thursday. The total assets of the company for the first quarter of this year reached KD 260.6 million, while liabilities reached KD 2.96 million, compared to about KD 116 million for the first quarter of 2013. Founded in 1961, Kuwait Investment Company (KINV), listed on the Kuwait Stock Exchange (KSE), has assumed a vibrant role in the development of financial and investment industry in the State of Kuwait, and regionally