Kuwait - 24 February 2014

Kuwait Finance and Investment Company KFIC announced its financial results for the year ended December 31, 2014 in which it yielded a net profit of 1.6 million Kuwaiti Dinars at a profit rate of 5.52 fils per share. Compared with a profit worth of 3.2 million Kuwaiti Dinars, and profitability of 10.99 fils per share at the end of 2013. It is noteworthy that the exceptional results of 2013 arose from the exit of an associate company at 1.3 million Kuwaiti Dinars.

In this occasion KFIC Board of Directors has adopted the final accounts for 2014, and recommended the distribution of 5% of capital shares to shareholders. This is the first distribute dividends for KFIC since 2008; the year in which KFIC witnessed the beginning of the global financial crisis. This recommendation comes as a reassurance that KFIC has recovered end successfully surpassed the restructuring phase.

In this regard Tareq Mishari Al Bahar Executive Board Member at KFIC stated: "Despite the significant decline in the GCC markets during the fourth quarter of 2014, KFIC remarkably maintained its profitability. This in return reflects the company's solid diversity strategy in its investment portfolio, in which KFIC relies on generating revenues and assorted cash flows from financing activities, asset management and income generating investments. And not solely relying on trading in the financial markets.

Al Bahar then added: "Currently the company has a strong financial position and a promising growth potential. Where the total assets is amounted to 64.4 million Kuwaiti Dinars, including current assets amounting to 30 million Kuwaiti Dinars. On the other hand the total liabilities is amounted to 24 million Kuwaiti Dinars, including current liabilities of 7 million Kuwaiti Dinars. And the equity of the shareholders of the parent company was amounted to 37 million Kuwaiti dinars."

Al Bahar then concluded: "We are always keen on finding variety of effective investment tools. With an intent to yield good returns with limited risks, in order to meet the expectations of the shareholders and our valuable customers".

-Ends-

© Press Release 2015