Kuwait – Mubasher: The profits of Umm Al Quwain General Investments Company, listed on the Kuwait and Abu Dhabi stock exchanges, multiplied by about 19 times in the third quarter of 2023, recording an annual growth of 1864.86%.
According to a statement on the Kuwait Stock Exchange, today, Sunday, the company’s profits for the three months ending on September 30 amounted to 1.76 million dinars (21.35 million dirhams), compared to 89.81 thousand dinars (1.09 million dirhams) in the third quarter of 2022.
The matter was different in the first nine months of this year. The company’s profits fell by 29.59% to 2.88 million dinars (34.94 million dirhams), compared to 4.10 million dinars (49.62 million dirhams) in the same period of the previous year.
The statement attributed the achieved results to the return received from cash dividends, and the result of revaluation of investments through profits and losses. Shares held for trading were sold and achieved profit returns in 2022, and they were sold in the last quarter of the previous year. The company also obtained bonus shares in the same year.
The company recorded a profit in the first half of the current year of 1.12 million dinars (13.59 million dirhams), compared to 4.01 million dinars (48.54 million dirhams) in the first six months of the previous year, a decline of 72%.
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2023-10-22 05:56:42
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