16 March 2016
· Revenue KD 7.3 Million, Net Profit KD 524 Thousand.

Kuwait City - KAMCO Investment Company K.S.C. (Public), announces its financial results for the year ending on 31 December 2015.

KAMCO posted a Net Profit of approximately KD 524 thousand (Earning per Share of 2.20 fils), Revenues were maintained at KD 7.3 million.

Fee income registered 32% growth to reach KD 6.7 million compared to KD 5.1 million in 2014. However, during 2015 the overall profitability was affected by the significant decline in local and International equity markets and sentiment. A downward rally which started in the last quarter of 2014 continued in 2015, during which  KSE weighted index fell -13%, S&P GCC Composite by -17% and S&P 500 by -1%.   

Mr. Faisal M. Sarkhou, CEO of KAMCO, commenting on the results said, "2015 was a challenging year for the investment sector where low oil prices, Yuan  devaluation, the Fed rate hike and the increasingly stressed geo-political environments in the MENA region created highly volatile market which continued to impact investor sentiment negatively."

He further added, "Despite these challenges, operationally, KAMCO displayed its resilience by maintaining its asset under management at KD 3.4 billion (USD 11.2 billion), offering new ranges of services and products. All KAMCO managed equity funds performed better than their respective benchmarks. Our investment banking activities reaffirmed KAMCO's leadership position by having lead roles in key announced transactions and advisory mandates both locally and regionally."

-Ends-

About KAMCO
KAMCO Investment Company is a premier investment company based in Kuwait and is regulated by the Capital Markets Authority with one of the largest private sector AUMs in the region.

Established in 1998 and listed on the Kuwait Stock Exchange (KSE) in 2003, KAMCO is a subsidiary of United Gulf Bank (UGB) and is the asset management and investment banking arm of Kuwait Projects Holding Company (KIPCO).

It has become a leading regional company within its sector offering innovative products and services to its clients, holding over USD 11 billion of client AUM and has successfully completed over 82 investment banking transactions worth over USD 12 billion as of 30 September 2015.

With almost two decades of experience in conducting business in Kuwait's dynamic investment industry, KAMCO has successfully established a robust reputation for solidity, characterized by its prudent, conservative investment philosophy and spirit of transparency, which has consistently commanded the goodwill of a wide patron-base.

The company will further aggressively build upon its core competencies to offer MENA-wide investment management consultancy and services, backed by its proven track record in stringent risk mitigation, investment product innovation, and a cautious investment approach towards local, regional and international capital markets.

For any additional information, please contact:
KAMCO Marketing Department
marketing@kamconline.com 
Tel: +965 185 26 26 Ext: 1360

© Press Release 2016