Markaz delivers a Net Profit attributable to Shareholders of KD 7.81 mn for Q1-2022; up by 92%
12 مايوKuwait Financial Centre “Markaz” (KSE: Markaz, Reuters: MARKZ.KW, Bloomberg: MARKAZ:KK) reported its financial results for quarter ended 31 March 2022 with Total Revenues of KD 12.24 million, up by 49% y-o-y, as compared to KD 8.23 million in Q1 2021. Markaz delivered a Net Profit attributable to Shareholders of KD 7.81 million, an increase of 92% y-o-y, as compared to KD 4.06 million in Q1 2021, and Earnings Per Share of 16 Fils in Q1 2022.
Markaz Holds Fun-filled Annual Ramadan Ghabga for Employees and their Families
In line with its continued efforts to promote team-building and in celebration of Ramadan, Kuwait Financial Centre “Markaz” held its annual Ghabga at the Symphony Hotel on the 20th of April. The event saw Markaz teams and their families enjoy a wide range of recreational activities and fun-filled competitions, including raffles, musical performances, and more. The Ghabga’s proceedings were led by Kuwaiti TV presenter Mr. Abdulaziz Darwish, whose enthusiasm and energy helped make the evening truly memorable for all in attendance.
National Industries Group Holding successfully completes capital increase of KWD 104 million, with ‘Markaz’ acting as Lead Manager and Subscription Agent
National Industries Group Holding (NIGH) and Kuwait Financial Centre “Markaz” announced, in a joint statement, the successful completion of NIGH’s capital increase, raising a total value of KWD 104 million through the issuance of 524,733,305 ordinary shares at a subscription price of 200 Kuwaiti fils per share, representing 35% of the issued and paid-up capital of the company. The subscription period for the rights issue ran from 3 April to 21 April 2022, which witnessed a large turnout, as demand exceeded the number of shares offered with a subscription coverage rate of 348%.
Markaz: GCC markets trend upward on positive economic outlook and corporate earnings
Kuwait Financial Centre “Markaz” recently released its Monthly Market Review report for the month of April 2022. Kuwait’s All Share Index gained 2.6% in the month of April supported by improved economic outlook and positive earnings reports. Oil prices were up by 1.3% for the month.