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ALAFCO achieves KD 5 mln in net profit for 1st half of fiscal year |
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Business News
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Thursday, 22 April 2010 00:03 |
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KUWAIT, April 21 (KUNA) -- Aviation Lease And Finance Company (ALAFCO) achieved net profit of KD five million within the first half of the current fiscal year, an increase of 57 percent from the numbers of last year
, said a statement here Wednesday.
Chairman of the Board and Executive Chairman of ALAFCO Ahmad Al-Zabin told the press that the volume of operation profit had reach KD 9.3 million for the first half of the fiscal year which started last October, adding that it increased 51 percent from last year's numbers.
The statistics showed that ALAFCO is progressing it its profit margin despite the advent of the worldwide economic crisis, said the official, adding that the company's USD 1.5 billion assets would help ALAFCO to expand profit and income.
The amount of funds which the company garnered from banks and institutions worldwide in the last six months had reach USD 310 million, reflecting trust in ALAFCO's mode of operation, said Al-Zabin. - Kuna
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