Mubasher: KAMCO Investment reported a 66.3% year-on-year (YoY) increase in profits during the second quarter of 2019.

KAMCO posted profits of around KWD 532,330 ($1.75 million) in Q2-19, compared to nearly KWD 320,150 ($1.05 million) in the same period a year ago, according to the firm’s statement to Boursa Kuwait on Monday.

During the first half of 2019, KAMCO’s profits leapt by 163.4% to KWD 1.11 million from about KWD 421,410 in H1-18.

KAMCO has attributed the H1 profits’ growth to a rise in net profits realised from the following: an increase in fee income, firm’s share of results from associates, and revenue from dividends as well as interest income which was partially offset by higher financing costs as well as the administrative and general expenses costs.

In the first quarter of 2019, KAMCO’s profits jumped by 470.5% to approximately KWD 577,670 from nearly KWD 101,260 in Q1-18