(MENAFN - Kuwait News Agency (KUNA)) Kuwait Financial Center (Markaz) said Wednesday its net profits in the first quarter of 2012 ending on March 31 amounted to KD 2.82 million, with the per share net profit amounting to 6 fils.
These financial results are a great achievement when compared to a loss of KD 748,000 incurred by the company in the corresponding period of 2011, it said in a press release.
The company maintained a good level of liquidity with the net value of crediting amounting to KD 32 milion, or 36 percent of the shareholders' dividends.
The value of shareholders' dividends topped KD 87.6 million by the end of Q1, 2012, growing by 4.2 percent from the previous quarter while the value of operating assets went up to KD 888 million growing by six percent from Q4, 2011.
The Markaz Board Chairman and Managing Director Dhrar Youssof Al-Ghanem attributed the excellent results to the high quality of the assets, the strong financial position and the high solvency of the company.
The financial sector remains the major source of financing for local major projects thanks to the numerous financing tools notably the bonds, Al-Ghanem added.