Kuwait Investment Projects Company (KIPCO) [KPRO.KW] expects high single-digit revenue growth for 2016, versus a 4% increase in 2015, driven by its core investments in banking, insurance, broadcasting and real estate, Vice Chairman Faisal al-Ayyar said. KIPCO’s core portfolio of firms, including Burgan Bank, pay-TV operator OSN and Gulf Insurance Group, is expected to continue to deliver double-digit revenue growth in 2016. While the company is moving towards doubling its 2014 profit by 2018, difficult trading conditions limit its revenue growth to the high-single digits range, he added. (Reuters)
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