National Investments Company Announces H1 results for 2022

National Investments Company Announces H1 results for 2022

KUWAIT: National Investments Company has announced its financial results for H1 2022, including an analytical overview of the company’s performance and financial position from the beginning of the year until 30 June 2022. In a press statement, Fahad Al-Mukhaizim, CEO of the National Investments Company, said: “Our financial results for H1 2022 reflect the strategy followed by the company, as one of the leading investment companies in Kuwait and the region. Despite the KD3.4 million decline in the second quarter of 2022 compared to KD15.1 net profits generated in H1 2021, NIC has achieved a net profit of KD12 million, 15 fils per share since the beginning of 2022.”

Regarding assets, Mukhaizim has highlighted a 15.2% growth to reach KD275.9 million by H1 2022, compared to KD239.5 million in total assets by H1 2021, regardless of the KD36 million profits distribution. Mukhaizim also highlighted those total managed assets had witnessed a 5.5% increase to KD1.13 billion compared to KD1.07 million generated by H1 2021. Other comprehensive revenues grew by 4.7% in the second half of this year to KD8.3 million compared to KD7.9 million in the first half of 2021. Mukaizim went on to say that the total shareholders’ equity of