KAMCO reports strong performance in 2007 set to deliver good growth in 2008

KAMCO recorded a net profit of just over KD37m in 2007 compared to the previous year's net profit of KD15.8m - representing a significant increase of 135% upon the previous year's result. Earnings per share in 2007 were 150.8 fils, representing a 135% increase over the previous year's figure of 64.2 fils. Return on Equity reached 37.06% and Return on Assets reached 22.2% - in both cases this was almost double the return rates reached in 2006.

These results represent a very strong overall performance for KAMCO and reflect the company's long standing market experience and investment expertise across the region, laying foundations for continued growth and development.

KAMCO Chairman, Mr. Masaud Mahmoud Jawhar Hayat, said: "I am delighted by the achievements we have made in 2007 - the results provide an excellent platform for continued development and growth as KAMCO becomes an increasingly significant player in the regional asset management and investment banking marketplace."

"KAMCO's success has happened because of its investment in the development of a highly professional team and in the establishment of more efficient and effective processes helping us to reap the maximum benefit of preferential market conditions," added Mr. Hayat "We are confident that the momentum will continue and drive growth for KAMCO in this region in the coming year,. He concluded.

KAMCO is one of the largest private sector asset mangers in the Middle East region with its own sizeable asset base of more than KD194.5m. The company also has an additional KD2.4bn in individual and institutional third party assets under management. MENA Asset Management provides its clients with pooled and tailored investment products and services to choose from including local and regional funds, forward trading and discretionary, client- managed and custody portfolio services. In addition to equities in Kuwait and the MENA region, KAMCO's financial services include bonds and direct investment in real estate throughout the region.