Kuwait City, [Date] - Kuwait Projects Company (Holding) - KIPCO reported a net profit of 15.6 million Kuwaiti dinars (approximately $50 million) for 2024, representing a 47.9% decline compared to 2023 results. The announcement was made on Thursday through an official disclosure published on the Kuwait Stock Exchange website.

Key Financial Highlights:

• Earnings Per Share (EPS): 1.8 fils (64.7% decrease year-on-year)

• Dividend Recommendation: No dividend distribution for 2024

• Auditor Appointment: New external auditor to be appointed for 2025

Corporate Background:
Established in 1975 and listed on the Kuwait Stock Exchange in 1984, KIPCO maintains:

• Paid-up Capital: 504.8 million KD (~$1.5 billion)

• Investment Focus:

  • Ownership stakes in Kuwaiti/foreign joint-stock companies

  • Investments in limited liability companies

  • Diverse portfolio management