UWAIT CITY: Aref Investment Group Company (AIG) had obtained the approval of the Central Bank of Kuwait on its annual financial statements for the fiscal year ending Dec 31, 2007, dated March 17, 2008. The company earned a profit of KD 61,171,672 with EPS valued at 127 Kuwaiti fils for the year ending Dec 31, 2007. For the year ending Dec 31, 2006 the company earned a profit of KD 33,506,455 with EPS valued at 69 Kuwaiti fils. The net profit includes unrealized gains of KD 207,267, unrealized revenue worth KD 6,653,792 and outstanding expenses amounting to KD 3,943,285.
The Board of Directors of the National Ranges Company had met on Monday March 17, 2008 and adopted the annual financial statements of the company for the financial year ending Dec 31, 2007.The company reported earning a profit of KD 9,003,143 for the year ending Dec 31, 2007, a KD 8.8 million increase compared to the profit for the year ending Dec 31, 2006 which amounted to KD 325,759. The net profit includes unverified loss of KD 279,929, unrealized revenue worth KD 212,834 and outstanding expenses amounting to KD 20,000. The Council also proposed the recommendation to distribute cash dividends at 6 percent of the nominal value of shares (6 fils per share). Note that this recommendation is subject to approval by the general assembly of the company and the competent authorities.
Kuwait Stock Exchange (KSE) announces that the Board of Directors of the Kout Food Group Company had met on Monday March 17, 2008 and adopted the annual financial statements of the company for the financial year ending Dec 31, 2007. The company earned a profit of KD 5,828,255 with EPS valued at 88 Kuwaiti fils for the year ending Dec 31, 2007. The net profit includes unrealized revenue worth KD 60,865 and unpaid expenses amounting to KD 1,614,772.
For the year ending Dec 31, 2006 the company earned a profit of KD 5,615,396 with EPS valued at 85 Kuwaiti fils.
The council proposed the recommendation to distribute cash dividends at 30 percent of the nominal value of shares i.e. 30 fils per share and bonus shares at 10 percent of the paid-up capital i.e. 10 shares for every 100 shares. Note that this recommendation is subject to approval by the general assembly of the company and the competent authorities.
The Board of Directors of the Kuwait Real Estate Holding Company had met on Monday March 17, 2008 and adopted annual financial statements of the company for the financial year ending Dec 31, 2007, earning a profit of KD 2,235,660 with EPS valued at 7.61 Kuwaiti fils. The net profit includes unrealized gains of KD 2,642,793 and unrealized revenue worth KD 74,800. For the Year ending Dec 31, 2006 the company earned a profit of KD 2,166,251 with EPS of 7.35 Kuwaiti fils. The Board proposed the recommendation to distribute cash dividends at 7 percent of the nominal value of shares (7 fils per share) and bonus shares at 5 percent of the paid-up capital (5 shares for every 100 shares). Note that this recommendation is subject to approval by the general assembly of the company and the competent authorities.
Kuwait Stock Exchange (KSE) announces that the Board of Directors of the Al-Mowasat Holding Company met on Monday March 17, 2008 and adopted the annual financial statements of the company for the financial year ending Dec 31, 2007, earning a profit of KD 1,097,046 with EPS of 12.47 Kuwaiti fils for the year ending Dec 31, 2007 compared to a profit of KD 1,064,463 for the year ending Dec 31, 2006. Council recommended distribution of bonus shares at 10 percent of the paid-up capital (10 shares for every 100 shares). Note that this recommendation is subject to approval by the general assembly of the company and the competent authorities.
Kuwait Stock Exchange (KSE) announces that the Board of Directors of National Cleaning Company had met on Monday March 17, 2008 and adopted the annual financial statements of the company for the financial year ending Dec 31, 2007. The company earned a profit of KD 445,540 with EPS valued at 9.45 Kuwaiti fils for the year ending Dec 31, 2007. For the year ending Dec 31, 2006 the company earned a profit of KD 353,046 with EPS valued at 7.49 Kuwaiti fils. The net profit includes unrealized gains of KD 600,055. The council decided not to distribute dividends for the financial year ending Dec 31, 2007 rather to increase the company's capital by 112.0131 percent of current capital at 250 fils (nominal value of 100 fils per share in addition to premium of 150 fils). Note that these recommendations are subject to approval by the general assembly of the company and the competent authorities.
The general assembly meeting of Contracting and Marine Services Company will be held on Thursday, March 27, 2008 at 12.30 p.m. in the building of the Ministry of Trade and Industry to discuss the recommendation of the Governing Council for the financial year ending Dec 31, 2007 which includes distribution of cash dividends at 10 percent the security of the nominal value of shares (10 Kuwaiti fils per share) and bonus shares at 20 percent of the paid-up capital (20 shares for every 100 shares). The council also recommended increase in capital by 40 percent at nominal value of 100 Kuwaiti fils per share plus premium of 200 fils per share. The council will also discuss other items on the agenda. Note that this recommendation is subject to approval by the General Assembly and the competent authorities.
© Arab Times 2008
