ACICO Group, a Kuwait-based building materials and construction company, said it has reached agreements with two local creditor banks to restructure its outstanding debt and financing obligations, thus bringing completed settlements to about 80% of the total creditor bank obligations.
ACICO Group, a full-service, multi-sector construction group, has announced solid results for the first quarter of 2026 registering a 23% growth in its operating revenues, thus reflecting robust growth despite the geopolitical conditions affecting the region and the resulting operational and market challenges.
ACICO Group, a full-service, multi-sector construction group based in Kuwait, said it has returned to profitability with a KD2.9 million ($9.4 million) net profit in 2025 compared with a net loss of KD11.2 million ($36.2 million) a year earlier, reflecting progress in its restructuring plan.
