Middle East Business: Boursa Kuwait records 60.67% jump in its Q1 net profit – Gulf Digital News

Middle East Business: Boursa Kuwait records 60.67% jump in its Q1 net profit – Gulf Digital News

The national stock market of Kuwait, Boursa Kuwait’s first quarter 2022 net profit (attributable to the equity holders of the parent company) has rocketed 60.67% to KD5.25 million ($17.12 million) from KD3.26 million in Q1 2021.

Meanwhile, the company’s earnings per share recorded an increase of 60.67% from 16.26 fils in the first quarter of 2021 to 26.13 fils in the first quarter of 2022.

Total operating revenue for the period increased to KD8.79 million, an increase of 29.76% from KD6.77 million in Q1 2021. Operating profit soared 65.67% from KD3.81 million to KD6.32 million, while total assets amounted to KD121.4 million, up 9.95% from KD110.42 million a year ago.

Taking on challenges

Despite the challenges stemming from the uncertainties in the global economic scene, Boursa Kuwait recorded an exceptional performance this quarter, building on the tremendous growth in trading value, which increased by 60.31% from around KD2.59 billion to around KD4.15 billion, as well as the 57. 68% increase in Average Daily Traded Value (ADTV) from around KD43.11 million to about KD67.98 million.

Additionally, the traded volume increased 0.71% from approximately 16.82 billion shares to around 16.94 billion shares, driven by Boursa Kuwait’s continuous efforts and the support of the capital market apparatus to