Boursa Kuwait Announces Profits Of Kd 3.26 Million For The Period Ended 31 March 2021

Press release
Published May 10th, 2021 - 06:47 GMT
Boursa Kuwait Announces Profits Of Kd 3.26 Million For The Period Ended 31 March 2021
Increase of 58.5% in Shareholders’ Equity YoY Increase in Operating Revenue for the first quarter by 80.3%
Highlights
Boursa Kuwait announced an operating profit of KD 3.77 million for the three month period ended 31 March 2021, a 74.32% increase compared to the same period in 2020

In a meeting of its Board members on 10 May 2021, Boursa Kuwait announced an operating profit of KD 3.77 million for the three month period ended 31 March 2021, a 74.32% increase compared to the same period in 2020, when the company recorded a profit of KD 2.16 million. The company also announced that it recorded profits attributable to equity holders of the parent company of KD 3.26 million for the three months period ended 31 March 2021, a comparable performance compared to the same period in 2020, when the company recorded a profit of KD 3.27 million. 

As a result of the consolidation of the Kuwait Clearing Company, which was previously classified as an associate company, as a subsidiary, the company’s total assets came in at approximately KD 110.42 million, which is a 150.65% increase versus its 2020 total for the same period of KD 44.05 million. Shareholders’ equity attributable to equity holders of the parent company also increased from KD 35.37 million in March 2020 to KD 56.07 million for the period ended 31 March 2021, an increase of 58.53%, while the company generated 16.26 fils earnings per share, which is attributable to the equity holders of the parent company compared to its total of 16.27 fils over the same period in 2020. Meanwhile, total operating revenue came in at KD 6.73 million, an increase of 80.30% over the same period in 2020 which stood at approximately KD 3.74 million, while total operating expenses were KD 2.96 million, an increase of 88.52% over the same period’s 2020 total of KD 1.57 million.

Background Information

Boursa Kuwait

Boursa Kuwait was founded on April 21st, 2014 by the Capital Markets Authority Commissioners’ Council Resolution No. 37/2013 dated 20th November, 2013 and the Capital Markets Authority Law No. 7/2010. In addition to being primarily responsible for regulating all aspects of the Kuwaiti capital market, the Capital Markets Authority also has full ownership of Boursa Kuwait, which manages the exchange operations. Boursa Kuwait is responsible for introducing new trading rules, risk management practices, price discovery mechanisms and new technology to ensure that Boursa Kuwait is as robust and secure as possible. The establishment of Boursa Kuwait marked the first step in privatizing the Kuwaiti Stock Exchange, which was founded in 1983. 

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