Sokouk Holding stated that it has concluded KWD 2.18 million debt settlement agreement with a 96.52% owned subsidiary.

The settlement won't have any financial impact on the company's financial state, said sokouk in a statement to Kuwait's bourse.

The company announced interim financial statements for H1-FY14 which reflected KWD 2.39 million net profit, down by around 84.6% from KWD 15.48 million posted in the same period a year earlier.