Boursa Kuwait’s H1 net profit up 36.8%

Boursa Kuwait’s H1 net profit up 36.8%

In a meeting of its Board members on 1 August 2022, Boursa Kuwait announced net profits (attributable to equity holders of the Parent Company) of KD 10.7 million for the six month period ended 30 June 2022, an increase of 36.8% compared to the same period in 2021, when the company recorded net profits of around KD 7.8 million.

The company generated 53.37 fils Earnings per Share, an increase of 36.8% compared to its total of 39.03 fils over the same period in 2021, while the Group’s total assets came in at approximately KD 110.8 million, which is an almost 4% increase versus its 2021 total assets for the same period of KD 106.5 million. Equity (attributable to equity holders of the Parent Company) increased from KD 52.6 million at 30 June 2021 to KD 58.3 million at 30 June 2022, an increase of 10.8%, while total operating revenue came in at KD 18.4 million, an increase of 21.8% over the same period in 2021, which stood at approximately KD 15.1 million.

Boursa Kuwait Chairman Mr. Hamad Meshari Al-Humaidhi commented: “We are pleased to have recorded a net profit of around KD 10.7 million for the first half of 2022, which is an almost 36.8% increase over its total in the corresponding period in 2021. The company has continued to improve on its results year by year, which shows not only the strength of our operational model, strategy, and underlying financial health, but were also indicators of the company’s resilience as well as that of the Kuwaiti capital market.”

He continued: “Despite the volatility in capital markets across the world, we are hopeful that the results made in the first six months are indications of things to come for Boursa Kuwait, which has made considerable gains in achieving the goals of its strategy since its privatization in 2019. The company’s efficient, sustainable and responsible business practices have made it a model issuer and a standout listed company that has drawn the attention of investors worldwide. I would like to thank my fellow Board members, the Executive Team and the esteemed Boursa Kuwait employees for their monumental efforts to develop and enhance the company, the Kuwaiti capital market and the national economy during the year.”