Investment firm Kuwait Projects Co (Kipco) posted a net profit of KD0.71 million ($2.46 million) in the fourth-quarter, according to Reuters calculations on Monday.

Full year net profit came in at KD46.32 million, up from 24.1 million in net profit in 2008, the firm said in a statement on the Kuwaiti bourse website on Monday.

Kipco had a net loss of KD59.46 million in the fourth quarter of 2008, according to previous financial data. – Reuters