Gulf Holding Company, a Sharia'h compliant company based in Kuwait, said it has registered a net profit of KD4.115 million ($14.25 million) despite 'the continued impact of the global financial crisis.'

Announcing the results on Monday, Gulf Holding Company said its total assets soared 5.3 per cent to touch KD194.73 million, while the earning per share stood at 4.86 fils. The shareholders' equity rose to KD102.6 million, it added.

The results confirm the strength and robust position of the company despite the continued impact of the global financial crisis, said a top official.

Ahmed Al Ameer, vice-chairman and managing director, said Gulf Holding had acclimatized to the economic developments on the local and regional markets, and proved, by continuing to implement its strategic plan, that it can make more success and progress thanks to the efforts of a distinguished and dedicated management team keen to ensure continued growth and progress for the company.'

He said the company continued to implement its ambitious strategy through its diversified projects in Bahrain and Morocco at the same time, proving to its investors and customers that it is important to realize its objectives and to complete the projects according to its set plan.

Al Ameer said: 'Realizing good financial results over the past four years is a testimony to the success of our business plan in investing on the markets despite continued repercussions and volatilities on the global financial markets, which will hopefully recover in the near future, promising more positive results to our investors and shareholders and thus enhancing their trust in the company and its management.'

Al Ameer disclosed that the company was eyeing to list its shares on the Kuwait Securities Exchange. 'This is one of our top priorities for 2010, in line with our long term vision to become a reliable holding regional company.'

'We have made large strides in this respect and our discussions with our consultants Cap Corp have gone a long way to list the Company by fulfilling all conditions and requirements. We have also provided the Stock Exchange with all the necessary information, and we are currently waiting their response,' he added.-TradeArabia News Service