The Middle Eastern holding firm Kuwait Projects Company (KIPCO) said yesterday net nine-month profits jumped 50 percent to 18.2 million dinars ($61.8 million) from a year ago on a big rise in revenues. "The 2004 nine-month profit figure equals KIPCO's full year profit figure in 2003, its 12th year of unbroken profitability," said the Kuwait-based company with more than $10 billion in assets under management or control. KIPCO, whose 2003 net profit had soared 182 percent to 18.2 million dinars, owns stakes in companies in telecommunications, media, financial services, real estate and industry in the Middle East and Africa.
