Kuwait's Aviation Lease and Finance Company (Alafco) posted a 50 per cent rise in net profit in the third quarter of the fiscal year ending September 30.
Net profit in the nine months to June 30 rose to 8.3 million dinars, compared with 7.7 million dinars in the year earlier period, Alafco said in a statement without giving a reason for the rise.
According to Reuters calculations third-quarter net profit rose to 5.1 million dinars from 3.4 million in the year earlier period.
Total assets for the nine months rose by 33 per cent to 339 million dinars, while shareholders' equity rose by 17 per cent to 93 million dinars, Alafco said.
Earnings per share was 12.1 fils in the first nine months, it said without giving a comparison. There are 1,000 fils to the dinar.
Earlier this month, the firm said that it will deliver 11 Airbus aircraft in the second half of 2009. Six of the new planes will go to Saudi Arabian Airlines, four to Greek Pantheon Airways, and Kuwait's Wataniya Airways will receive one aircraft.
Islamic lender Kuwait Finance House is Alafco's biggest shareholder with a 53.62 per cent stake, while state-owned Kuwait Airways owns 11.47 per cent according to the bourse website.
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