Boursa Kuwait H1 2021 net profit jumps 39% to $26mln

Net profit rise was due in part to consolidation of Kuwait Clearing Company

  
A man wears a protective mask, following the outbreak of coronavirus, as he walks from the closed doors of the Kuwait Stock Exchange, in Kuwait City, Kuwait March 16,2020.

A man wears a protective mask, following the outbreak of coronavirus, as he walks from the closed doors of the Kuwait Stock Exchange, in Kuwait City, Kuwait March 16,2020.

REUTERS/Stephanie McGehee

Boursa Kuwait reported a net profit of 7.8 million dinars ($26 million) for the six-month period ended June 30, 2021, a 39 percent increase compared to the year-earlier period.

Earnings per share (EPS) came to 39.03 fils per share compared with 28.05 fils in the same period last year, the bourse operator said in a statement.

The rise in net profit was partly due to the consolidation of the Kuwait Clearing Company since the third quarter of 2020. Other factors that led to the higher net profit include a rise in the total traded value by over 53 percent, and a doubling of trading volume over the prior period.

The group’s total assets came in at approximately 106.5 million dinars compared to 41.7 million dinars in the year-ago period.

Total operating revenue came in at 14.9 million dinars, more than double year-on-year.

(Writing by Brinda Darasha; editing by Daniel Luiz)

brinda.darasha@refinitiv.com

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© ZAWYA 2021

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