Hamad Al-Amiri, Chairman of the Board of Directors of the “National Investments” Company in Kuwait, said in a press statement that the company achieved profits of $80.6 million, or $0.10 per share, for the fiscal year ending on December 31, 2021.
A profit was made last year, while the same period from the end of 2020, a loss of $8.9 million was recorded, and a share declined at that time by about $0.01.
Based on these profits, the Board of Directors recommended the distribution of cash dividends, considered the largest in the past ten years, equivalent to $0.15 per share.
Al-Amiri added that the financial results for the year 2021 were positive, noting that the company started the year 2021 with a strong set of investment operations, which included a number of mergers and acquisitions for the benefit of its clients and a number of sales and restructuring operations.
He pointed to the conclusion of contracts to provide general advisory services and to attract many new investments in the sectors of infrastructure, credit, information technology and private equity.
PERFORMANCE AND ACHIEVEMENTS
In the same vein, the CEO of “National Investments”, Fahad Abdul Rahman Al-Mukhaizeem, confirmed that the company witnessed a year of strong performance and operational achievements that strengthened its financial position by the end of the fiscal year 2021.
He added that national investments were able to overcome the conditions that prevailed in the country and the world, following the spread of the Corona pandemic and its consequences as a result of the ban and stone since the beginning of the year.
He added that the approved plans and strategic visions reflected the success of the company’s work team and the strengthening of its position in the financial sector, as well as raising its position in the investment sector as one of the largest and most prestigious investment companies in Kuwait and the region.
He stated that investments recorded a remarkable rise in profits, amounting to $89.4 million, during 2021, and the same year witnessed the achievement of outstanding performance at the level of the company’s projects in Kuwait and the region, which was reflected in the continued growth of profitability rates and the recording of strong financial results.
The investments also added a significant growth in total assets by 31.2 percent to reach $960.6 million, compared to $731.9 million at the end of 2020, which amounted to $731.9 million.
Al-Mukhaizeem praised the increase in the total assets under management by 8.4% to reach $3.6 billion at the end of 2021. Compared to the previous year, it amounted to $3.3 billion, despite the challenges faced by the region.
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