Kuwait Hotels posts KD2.1m profit

Kuwait Hotels Co (KHC), an affiliate of Kuwait Projects Company (KIPCO), has posted KD2.1m in net profits during 2009, up 90% over the year before, Kuna has reported. KHC's chairman, Sheikh Fadhel Khaled Al-Sabah, said the company will distribute 10% dividends and 5% bonus share, pending the general assembly's approval. Al-Sabah also said the firm will carry out its restructuring scheme based on diversifying its investments in the hospitality sector in North Africa and the GCC countries.