Wednesday, Mar 13, 2013
BEIRUT (Zawya Dow Jones)--Kuwait Finance and Investment Co. (KFIC.KW), or KFIC, on Wednesday said that it swung to a full-year net profit of 11.78 million Kuwaiti dinars ($41.43 million) in 2012 from a loss of KWD7.89 million in the previous year.
Total assets, however, dropped 5.1% to KWD76.6 million by the end of 2012, from KWD80.69 million a year earlier, the investment and asset management firm said in a statement posted on the Kuwait bourse website.
The company also said that its board has proposed that no dividend be distributed for 2012.
KFIC shares closed 4.1% higher at KWD0.077 in an overall higher market.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
Copyright (c) 2013 Dow Jones & Co.
(END) Dow Jones Newswires
13-03-13 1257GMT
