Kuwait National Investment Company maintains solid profits despite economic difficulties


(MENAFN) Kuwait National Investments Company has announced its financial performance for the fiscal year ending on December 31, 2023, highlighting a continuation of positive financial and operational results. According to the company's statement, National Investments achieved net financial profits of 4.1 million Kuwaiti dinars (USD13.33 million), equivalent to 5 fils per share, during the specified period. This marks a slight decline from the previous fiscal year's profits, which amounted to 8.7 million Kuwaiti dinars, at 11 fils per share, ending on December 31, 2022.

Badr Nasser Al-Kharafi, Chairman of the Board of Directors of the National Investments Company, commented on the company's performance, noting its resilience in the face of economic challenges experienced throughout 2023. He emphasized that the year presented numerous economic hurdles, the effects of which reverberated across local, regional, and global financial markets. Despite these challenges, National Investments managed to sustain its profitability, a testament to its strategic decision-making and prudent investment approach.

Al-Kharafi highlighted the company's strategic focus on defensive stocks as a key factor in navigating the volatile economic landscape of 2023. By prioritizing defensive investments, National Investments positioned itself to withstand the rapid changes and uncertainties that characterized the global markets during the year. This strategic approach enabled the company to mitigate risks and preserve shareholder value amidst a backdrop of economic uncertainty and market volatility.

Looking ahead, National Investments remains committed to prudent investment strategies aimed at delivering sustainable returns and driving long-term growth. The company's ability to adapt to evolving market conditions and maintain profitability underscores its resilience and agility in navigating the complexities of today's economic environment. As it continues to navigate the challenges and opportunities of the financial landscape, National Investments remains focused on delivering value to its shareholders and stakeholders alike.

MENAFN05032024000045015682ID1107935870


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.