Boursa Kuwait saw a net profit of KD5.63 million ($18.3 million)for the six month period ended 30 June 2020, an increase of 46.5% compared to the same period in 2019, when the company recorded a profit of KD3.85 million.
The company generated 28.05 fils earnings per share, which is an increase of 46.5% compared to its total of 19.15 fils over the same period in 2019, while the company’s total assets came in at approximately KD41.7 million, which is a 22.4% increase versus its2019 total for the same period of KD34.1 million.
Shareholder equity increased 24.1% from KD26.4 million in June 2019 to KD32.7 million for the period ended 30 June 2020.
Total operating expenses were KD3.12 million, a decrease of 27.7% over the same period’s 2019 total of KD4.31 million, while total operating revenue came in at KD6.77 million, a marginal contraction of 4.6% over the same period in 2019, when the total operating revenue for the six month period was approximately KD7.1 million.
Boursa Kuwait’s Chairman Hamad Mishari Al-Humaidhi said: “The results we see today mirror the strength of the operational model and the solid strategy in place as well as the company’s financial solvency, which have allowed us to overcome the various challenges brought about by the Covid-19 pandemic and deliver an exceptional performance.
“These key components are the effective catalysts of our stability and growth, allowing us to drive the successful journey of transformation further and take the exchange to new heights. The company has demonstrated strong operational resilience since inception and we look forward to building on these results and further diversifying our operations and products.”
Mohammad Saud Al-Osaimi, Boursa Kuwait’s Chief Executive Officer said: “Throughout these trying times, brought about by the Covid-19 pandemic, Boursa Kuwait remained focused on ensuring the seamless and efficient operations of the exchange, by rolling out a series of precautionary actions, and following through with existing development plans.
“Today, we continue to work towards strengthening our infrastructure and operational model to withstand any challenges that come our way. Boursa Kuwait will continue down the same path of market developments, elevating the overall status of the Kuwait Capital Market and contributing to creating a diverse product base that serves the interest of all our stakeholders.” – TradeArabia News Service
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