Kipco’s media numbers up 35%
July 28, 2014
By Chris Forrester
Kuwait’s Kipco Projects Co reported a 20 per cent rise in overall profits at the half-year stage, and states that its growth trends are “a positive indication of the performance we expect for 2014.”
And it seems Kipco’s media-related investments are contributing handsomely to that overall picture. During the previous quarter-year Kipco said its media investments had improved their net profitability more than 200 percent. That growth has slowed a tad – by 35 per cent in this most recent quarter-year – but indicating a solid positive response to its media interests, and which are mainly based on progress at Orbit Showtime Network (OSN) where it is the leading investor.
Actual net profit achieved for H1 was $77 million ($63.4 million same period last year). Total revenues for the 6-month period increased by 18 per cent to $1.03 billion (up from $855 million).