KIPCO revenues up 13%
April 27, 2016
By Chris Forrester
Kuwait’s KIPCO conglomerate, which amongst other investments owns a major (60.5 million) stake in Dubai’s pay-TV operator OSN, saw its Q1 profits jump 13 per cent, with a net profit of $44.7 million ($40 million same period last year).
KIPCO’s published quarterly statements do not break out its divisional performances, but its 2015 Annual Report, recently published, talks of $175 million of profits during 2015. As for OSN, KIPCO says it increased its revenues in 2015 by 11 per cent and profit by 6.2 per cent.