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11/04/2009 00:00 AST
Kuwaits First Investment Co. posted a 87 percent fall in 2008 profit on Thursday, the latest investment firm from the Gulf Arab states financial sector to take a hit.
Full?year net profit came in at 3.22 million Kuwaiti dinars ($11 million) after 25.37 million dinars in 2007, the firm said in a statement on the Kuwait bourse website.
It gave no reason for the profit fall or provide quarterly data. Company officials could not be reached for comment.
The company, which offers asset management and advisory services, also said its board recommended paying no dividend for 2008.
Total liabilities rose to 120.9 million dinars in 2008 after 75.9 million dinars in the previous year. Assets gained to 250.5 million dinars after 215.6 million dinars in 2007.
Trading in the firm resumed with the stock rising 5.5 percent. The bourse had halted the stock and several other shares last week for failing to report earnings on time.
Major sector rivals such as Global Investment House or Investment Dar have yet to report 2008 financials.
Reuters
05/04/2011
First Investment Company (FIC) sustained KD 10.5 million in losses; 16.1 fils in shares for the fiscal year that elapsed on December 31, 2010 compared to KD 22.9 million in losses and 35.2 fils decre
KUNA
04/04/2011
Liquidity Management House (LMH), serving as structuring advisor on behalf of six Kuwait banking institutions, has successfully completed a KWD 92 million ($331.6 million) debt restructuring of First
CPI Financial
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| OSOUL | 215.00 | 1.00 (0.46 |
| BAYANINV | 61.40 | -1.30 (-2.08 |
| GFC | 207.00 | -7.00 (-3.28 |
| KINGDOM | 7.06 | -0.15 (-2.09 |
| TADAWULGROUP | 167.10 | -2.00 (-1.19 |
15/09/2025
QIIB and Qatari Diar Real Estate Investment Company have signed a Memorandum of Understanding (MoU) aimed at enhancing co-operation in real estate development and financing, by enabling the bank to p
Gulf Times
15/09/2025
United Development Company (UDC), one of Qatar's leading real estate development firms and the master developer of The Pearl Island and Gewan Island, has been awarded two accolades at the 2025-2026 A
Gulf Times
15/09/2025
Vodafone Qatar and Khwarizmi Artificial Intelligence Centre Doha (KAIC) have signed a strategic memorandum of understanding (MoU), marking the beginning of a collaboration aimed at accelerating artif
Gulf Times
15/09/2025
Leading logistics services provider Gulf Warehousing Company has been named the 'National Winner for Qatar' in the wastewater treatment sector for its sewage water treatment plant in the GWC Bu Sulba
Gulf Times
15/09/2025
KIPCO - Kuwait Projects Company (Holding) - has successfully completed cash tender offers made to purchase in cash, any and all, of the $500 million 4.229 percent notes due on October 29, 2026 (2026
Kuwait Times
Financial Information Co.
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