Gulf Investment Corporation posts net profits of $201m

GMT 05:15 2015 Tuesday ,07 April

Arab Today, arab today Gulf Investment Corporation posts net profits of $201m

Gulf Investment Corporation
Kuwait - QNA

Gulf Investment Corporation (GIC) on Sunday announced its financial results for the year, ending 31 December 2014, posting net profits of USD 201 million.
GIC's net income is 23% higher than the prior comparative year. This announcement follows the approval of GIC's financial results by its 31st Ordinary General Meeting, according to Kuwait news agency (KUNA).
The improved profitability levels, driven by the good performance of GIC's key business lines: capital markets and direct investments, represent a return on equity of 7.6%, compared to 6.7% for the previous year.
Shareholders' equity grew 7% to reach USD 2.7 billion by the 2014 year-end.
With a conservative financial leverage of 1.9 times, GIC enjoys a solid financial position, and low risk profile.

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