Mubasher: The financial statements of Kuwait Finance House (KFH) revealed a net profit attributable to the owners of the parent company worth KWD 251.02 million ($828.32 million) over the fiscal year ended 31 December 2019, up by 10.4% year-on-year (YoY) from KWD 227.41 million ($750.41 million).

Earnings per share (EPS) increased by 10.3% annually at KWD 36.45 last year from KWD 33.06, according to a statement to the Kuwaiti bourse on Monday.

Over the fourth quarter (Q4) of last year, net profits registered KWD 60.52 million, 3.8% higher than KWD 58.31 million in the same quarter in 2018.

In the meantime, EPS amounted to KWD 8.78 in Q4-19 from KWD 8.48 in Q4-18, up by 3.5%.

KFH, moreover, attributed the increase in the annual net profits primarily to higher net operating income by 12.5% on the back of the growing total operating income by 9.2%.

It further approved the cash dividend distribution of KWD 137.98 million or 20 fils per share, representing 20% of the share’s nominal value as well as bonus shares totalling 69.76 million or 10 shares for every 100 shares, representing 10% of the issued and paid-up capital.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.