Kamco reports profit boost

21 March 2010

Kuwait-based KIPCO Asset Management Co (Kamco) has posted a 453% upward swing in net profit for 2009 at KD6.1m, against KD1.11m in 2008, Kuna has reported. Total shareholders' equity dropped 6.1% during 2009 to reach KD87.4m as of December 2009. The company said it will increase its exposure to the GCC equity markets which started to recover and are trading at attractive multiples, as well as focus more on the Capital Markets of India and China.

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