KUWAIT CITY : Governing Council of Tamdeen Real Estate Company (TAM) had met on Wednesday Aug 06, 2008 approved and adopted the interim financial statements for the periods ending June 30, 2008.
The company posted net profit of KD 35.2 million for the six months ending June 30, 2008 compared to a profit of KD 6.8 million for the same period of 2007. The company's earning per share (EPS) was valued at 94.5 fils. The net profit includes unrealized losses of KD 26,845, unrealized revenue of KD 336,377 and outstanding total expenses amounting to KD 490,867. For the three months ending June 30, 2008 the company earned a profit of KD 33 million with EPS of 88.9 fils compared to KD 5.1 million and EPS of 13.7 fils earned during the three months ending June 30, 2007.
Al-Safat Investment Company announces a net profit of KD 29.3 million for the first half ending June 30, 2008 compared to a profit of KD 10.8 million for the same period of 2007. The board of directors of Al-Safat met on Tuesday Aug 05, 2008 approved and adopted the financial statements for the periods ending June 30, 2008. The company's earning per share (EPS) was valued at 48.36 fils. The net profit includes unrealized profit worth KD 9,453,441 and unrealized revenue worth KD 210,103. For the three months ending June 30, 2008 the company earned incurred a loss of KD 14.2 million compared to KD 5 million earned during the three months ending June 30, 2007.
Kuwait Commercial Market Complex Company (KCMCC) earns net profit of KD 13.8 million for the half year ending June 30, 2008. The Board of Directors reported that the net profit includes unrealized profits of KD 21,442, unrealized revenue worth KD 3,017,143 and unpaid expenses amounting to KD 409,212. The earning per share was valued at 71.98 fils as compared to 10.45 fils per share earned in 2007. For the three months ending June 30, 2008 KCMCC's profit has risen by 600 percent, from KD 1 million of 2007 to KD 7 million for this year.
Coast Investment and Development Company (Coast) posted a net profit of KD 11.4 million for the six months ending June 30, 2008 a fall in profits by 52.5 percent as compared to a profit of KD 24 million earned during the corresponding period of 2007. The company obtained the approval of the Central Bank of Kuwait on its financial statements for interim periods ending June 30, 2008, dated Aug 5, 2008. The earning per share was valued at 20 fils. The profit included unrealized profits of KD 336,650 and unpaid revenue worth KD 4,601,753. For the three months ending June 30, the company's profit fell from KD 16.4 million earned in 2007 to KD 3.1 million earned this year.
The company board of Aref Energy Holding Company had met on Wednesday Aug 06, 2008 approved and adopted the financial statements of the company for the periods ending June 30, 2008. The company posted a net profit of KD 8.6 million for the half year ending June 30, 2008 with earning per share of 26.6 Kuwaiti fils. The net profit includes unrealized profits of KD 8,100,000 and outstanding expenses amounting to KD 265,766. During the three months ending June 30, 2008 the profit was KD 5.5 million compared to KD 373 thousand for the same period of 2007.
Privatization Holding Company (KPPC), formerly known as Kuwait Privatization Project Holding Company, earned a net profit of KD 8 million for the first half ending June 30, 2008 with earnings of 10.3 fils per share compared to a profit of KD 7.5 million for the same period of 2007. The board of directors of KPPC met on Wednesday Aug 06, 2008 approved and adopted the financial statements for the periods ending June 30, 2008. The net profit includes unrealized profit valued at KD 1,502,876, unrealized revenue worth KD 923,548 and unpaid expenses amounting to KD 97,739.
For the three months ending June 30, 2008 KPPC earned a profit of KD 2.9 million compared to KD 3.3 million earned during the same period of 2007.
Al-Ahleia Holding Company hits a net profit of KD 4 million for the six months ending June 30, 2008 with earning per share was valued at 4.9 fils. During the corresponding period of 2007, the company earned KD 7.6 million as profit with earning per share of 9.3 fils. Within the duration of a year the profit has fallen by 47 percent. The company obtained the approval of the board of directors on its financial statements for interim periods ending June 30, 2008, dated Aug 6, 2008. The net profit for the half year of 2008 includes unrealized profits of KD 838,877. For the three months ending June 30, the company's profit rose from KD 440 thousand earned in 2007 to KD 3.6 million earned this year.
The company board of Independent Petroleum Group Company approved and adopted the financial statements of the company for the periods ending June 30, 2008. IPG posted a net profit of KD 3.7 million for the six months ending June 30, 2008 with earning per share of 25.01 Kuwaiti fils. The net profit includes unrealized losses amounting to KD 1,403,236, unrealized revenue worth KD 15,225,753 and outstanding expenses amounting KD 15,238,075. During the three months ending June 30, 2008 the profit was KD 2 million compared to KD 1.8 million for the same period of 2007.
Board of Directors of the Kuwait United Poultry Company (KUPCO) met on Wednesday Aug 06, 2008 approved and adopted the financial statements of the company for the periods ending June 30, 2008. The company announces a loss of KD 2.6 million which includes unrealized losses of KD 22,440. For the three months ending June 30, 2008 KUPCO incurred a loss of KD 2.7 million.
Board of Directors of Burgan Company for Well Drilling (ABAR) had met on Tuesday Aug 05, 2008 and adopted the interim financial statements for the periods ending June 30, 2008. The company posted net profit of KD 2 million for the three months ending June 30, 2008. The company's earning per share (EPS) was valued at 13.46 Kuwaiti fils. The net profit includes unrealized revenue worth KD 5,477 and outstanding total expenses amounting to KD 109,530. For the three months ending June 30, 2007 the company earned a profit of KD 1.7 million with EPS valued at 11.54 fils.
Board of Directors of Automated Systems Company (ASC) had met on Wednesday Aug 06, 2008 and adopted the interim financial statements for the periods ending June 30, 2008. ASC posted net profit of KD 1.9 million for the half year ending June 30, 2008 compared to a profit of KD 2.2 million for the same period of 2007. The company's earning per share (EPS) was valued at 48.23 fils.
The net profit includes unrealized profit of KD 820,512, unrealized revenue of KD 245,674 and outstanding total expenses amounting to KD 204,050.
For the three months ending June 30, 2008 the company earned a profit of KD 873 thousand with EPS of 21.82 fils compared to KD 1.4 million and EPS of 35.13 fils earned during the three months ending June 30, 2007.
Central Bank of Kuwait has approved the request of Gulf Bank dated on Aug 05, 2008 for the renewal of the extension for a period of six months to buy 10 per cent of its issued shares.
The six months period commencing from the date of expiration of the current approval on Sept 11, provided the company adheres to the Central Bank's controls and conditions on contributing to the company's own shares, in addition to the need to adhere to the provisions of article 115 of the Business Companies Act and the provisions of Ministerial Resolution No. 10, in 1987, as amending by resolutions ministerial No. 11 for in 1988 No. 273 for in 1999.
Central Bank of Kuwait has approved the request of Burgan Bank for the extension for a period of six months to buy 10 per cent of its issued shares. The six months period commencing from the date of expiration of the current approval on Aug 06, 2008 provided the company adheres to the Central Bank's controls and conditions on contributing to the company's own shares, in addition to the need to adhere to the provisions of article 115 of the Business Companies Act and the provisions of Ministerial Resolution No. 10, in 1987, as amending by resolutions ministerial No. 11 for in 1988 No. 273 for in 1999.
The company board of Haj and Umrah Consortium Services Company met on Tuesday Aug 05, 2008 and adopted the financial statements of the company for the periods ending June 30, 2008. The company posted a net profit of KD 2.2 million for the six months ending June 30, 2008 with earning per share of 16 Kuwaiti fils. The net profit includes unrealized profits of KD 685,116, unrealized revenue worth KD 1,353,784 and outstanding expenses amounting KD 993,757. During the three months ending June 30, 2008 the profit was KD 611 thousand compared to KD 6 million for the same period of 2007.
Board of Directors of the Shuaa Capital Company (Shuaa) approved and adopted the financial statements of the company for the three months ending June 30, 2008. The company posted a net profit of KD 4.8 million (AED 67 million) which includes unrealized losses of AED 49,936,397 or equivalent to KD 3,603,360 and unrealized revenue worth KD 4,261,843. For the three months ending June 30, 2007 Shuaa's profit was KD 5.8 million (AED 74 million).
© Arab Times 2008
