Boursa Kuwait’s 2024 profit increases by 15% to $58.9M due to strong revenue growth
Boursa Kuwait said on Sunday that its yearly net profit grew by 15.1% to $58.9 million (KWD 18.2 million). This increase was due to higher operating revenue, according to a regulatory report.
2024 Results
Boursa Kuwait’s earnings increased in 2024. The company’s revenue went up by 18.4% compared to last year, reaching $117.7 million (KWD 36.3 million). Its profit also grew by 22.6% to $72.6 million (KWD 22.4 million).
The total value of the company’s assets increased by 6.1% to $408.96 million (KWD 126.2 million). Meanwhile, the total value owned by shareholders grew by 5.2% to $208.2 million (KWD 64.23 million).
The board of directors suggested paying a dividend of $2.7 (KWD 0.8) per share, which is about 90.56% of the company’s total profit.
Chairman Hamad Mishari Al Humaidhi said that despite economic challenges and political issues in 2024, Boursa Kuwait stayed strong and flexible. He added that the company showed great recovery, proving its solid financial position and smart strategy.
Boursa Kuwait also announced plans to introduce new investment options, including exchange-traded funds (ETFs) and corporate bond trading, in line with the Central Counterparty (CCP) system.
CEO Mohammed Saudi Al Osaimi mentioned that Kuwait’s stock market performed better than other GCC markets in terms of growth and trading value.
Kuwait’s Capital Market
The Kuwaiti stock market saw big improvements in 2024. The number of shares traded increased by 73.08% to 68.5 billion shares.
The total value of traded shares grew by 42.9% to $47.9 billion (KWD 14.8 billion), while the total market value went up by 8.24% to $141.3 billion (KWD 43.6 billion).
The Premier Market played a big role in this growth, with 29.31 billion shares traded in 1.96 million transactions, making up 42.8% of total trading.
The Main Market also helped increase market activity. It had a total market value of $26.75 billion (KWD 8.25 billion) and 109 listed companies. More than 39.13 billion shares were traded in 1.95 million transactions.
Published: 24th February 2025
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