Kipco makes slight profit in Q4

23 February 2010

Kuwait Projects Co, the country's biggest investment firm by assets, says it plans to continue its conservative strategy after making a net profit of 0.71 million dinars ($2.5m) in the fourth quarter, Reuters has reported. 'Although there are signs of a gradually improving economic outlook in 2010, we will continue to be conservative, vigilant and opportunistic,' KIPCO vice chairman Faisal al-Ayyar said. Kuwait's biggest investment firm by assets made a net profit of 0.71 million dinars ($2.5 million) in the fourth quarter, according to Reuters calculations

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