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KAMCO demonstrated continued strong growth for the first half of 2008 despite volatile market conditions in the first quarter of the year.
However, market conditions in the second quarter were more stable and conducive to KAMCO realizing its market potential.
Consequently, KAMCO was able to achieve total revenues of KD17.6m, up from KD15.7m normalized revenues in the same period last year.
This was due again to strong contributions from investment/trading income, corporate finance and growing fees and commissions from its growing assets under management.
KAMCO's total shareholders' equity rose by 14% to KD118m in the first half of 2008, compared to KD103.6m in the same period last year.
Total company assets also increased by a significant 28% to KD212m, compared to KD165m in the same period of last year.
KAMCO Chairman Masaud Hayat said:
"I am very pleased by these results which reflect the dedication and expertise of our professional team and the support we have been given by our shareholders, partners and clients. I am confident that we are on the right path towards achieving continued strong returns for our shareholders and clients and look forward to a positive performance in the second half of 2008 as well."
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Posted by Eman Hassan
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