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KAMCO reported total Q3 revenue of KD31.4m, up from KD24.7m normalized revenues in the same period last year, a 27% increase. In a year marked by high volatility in global markets, KAMCO's performance exceeded industry norms and KAMCO remains well-placed to record good results for the full year 2008 on a relative and absolute basis.
Total shareholders' equity in Q3 of 2008 improved 8% to KD120m, compared to KD111m in the same period last year. Total company assets also rose by 15% to KD212m, outpacing the KD184m posted in the third quarter of last year. MENTION GROWTH IN AUM.
KAMCO Chairman Masaud Hayat said:
"The strong growth achieved in this year's third quarter is a testament to our ability to operate effectively under various economic conditions and is emblematic of our dedication to consistently produce profitable results for our shareholders. KAMCO is poised to attain a leading position in the fields of investment banking & asset management in the MENA region and the strong performance we have achieved since the beginning of the year reflects our team's sterling efforts and deep professional expertise."
"KAMCO was able to achieve these strong results, based on the dedication and cooperation of all our departments in pursuing the best options for our clients and our shareholders and enabling us to continue to perform well during the current global credit crunch, although, in common with many others, we remain very cautious on the performance of global, regional and local capital markets in the final quarter of 2008," Hayat added.
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Posted by Siba Sami Ammari
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