Kipco Asset Management Company, (Kamco), a unit of Kuwait Projects Company (Kipco), reported a 149 per cent rise in second-quarter net profit. 

Net profit in the three months to June 30 was KD9.7 million ($34.40 million), compared with KD3.9 million in the year-ago period, the firm said in a statement.

Earnings per share were 39.20 fils in the quarter, from 15.80 fils in the year-earlier period.

Kamco's half-year profit, which rose 232 per cent to KD25.9 million, include unrealised gains of KD254,493, the company said.