Warba earns KD 908,226 in 1st quarter

KUWAIT CITY, May 9: Mabanee Company (Mabanee) reported on May 9, 2011 that the board of directors approved the financial statements for the Q1 period ending March 31, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) 5,776,462 5,251,176
EPS (LPS) (fils) 10.46 9.5
Total current assets 14,046,266 16,323,948
Total assets 267,795,687 233,109,962
Total current liabi-
lities 35,579,352 77,165,291
Total liabilities 135,486,511 120,364,088
Total equity 132,309,176 112,745,874
The total KD 1,459,040.

Combined Group Company (CGC) reported on May 9, 2011 that the board of directors approved the financial statements for the Q1 period ending March 31, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) 2,960,680 2,400,364
EPS (LPS) (fils) 33.75 27.48
Total current assets 128,576,459 103,798,337
Total assets 144,485,309 119,018,305
Total current liabi-
lities 81,472,549 55,002,544
Total liabilities 105,058,556 83,861,691
Total equity 39,426,753 35,156,614
The total expenses from transactions amounts to KD 146,852.

Central Bank of Kuwait approved on May 8, 2011 the financial statements of Manafae Investment Company (Manafae) for the financial statements ending March 31, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) (411,230) 24,255
EPS (LPS) (fils) (2.12) 0.12
Total current assets 14,532,457 19,232,459
Total assets 25,134,518 33,210,380
Total current liabi-
lities 211,304 5,928,820
Total liabilities 519,131 6,244,005
Total equity 24,615,387 26,966,375
The total expenses amounts to KD 157,590 and total income is worth KD 2,031.

Kuwait Stock Exchange (KSE) announced that the Board of Directors of Warba Insurance Company (Warba) adopted the interim financial statements of the company for the first quarter period ending March 31, 2011, dated May 9, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) 908,226 1,975,114
EPS (LPS) (fils) 5.26 11.45
Total current assets 44,741,749 45,298,480
Total assets 88,764,118 81,855,448
Total current liabi-
lities 15,483,973 9,505,059
Total liabilities 42,612,983 37,661,653
Total equity 45,978,445 44,193,795
The net profit includes total income worth 110,269 and total expenses from transactions amounts to KD 35,774.

Board of Directors of Aqar Real Estate Investments Company (Aqar) adopted the interim financial statements of the company for the first quarter period ending March 31, 2011, dated May 8, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) 72,026 46,864
EPS (LPS) (fils) 0.31 0.2
Total current assets 2,958,743 4,918,092
Total assets 27,578,927 27,910,432
Total current liabi-
lities 828,855 2,974,722
Total liabilities 3,635,851 4,258,848
Total equity 23,887,487 23,651,584
Total expenses from transactions amounts to KD 869.

United Project Group Company (UPAC) reported on May 8, 2011 that the board of directors approved the financial statements for the Q1 period ending March 31, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) 197,177 1,354,475
EPS (LPS) (fils) 2.48 17.06
Total current assets 10,648,430 8,897,398
Total assets 40,414,798 42,050,862
Total current liabi-
lities 6,571,643 7,315,987
Total liabilities 8,358,323 9,425,210
Total equity 29,136,967 29,741,627
The total expenses amounts to KD 4,446 and total income is worth KD 71,478.

Board of Directors of Portland Cement Company (PCEM) adopted the interim financial statements on May 9, 2011for the first quarter period ending March 31, 2011.
Particulars (3 March 31, March 31,
months ending) 2011 2010
Profit (Loss) (KD) (673,332) 6,352,951
EPS (LPS) (fils) (7.41) 69.88
Total current assets 58,228,628 45,680,101
Total assets 80,448,452 76,882,562
Total current liabi-
lities 5,997,924 4,379,378
Total liabilities 7,686,701 6,240,548
Total equity 72,761,751 70,642,014
The net profit includes total expenses from transactions amounts to KD 71,500.

Central Bank of Kuwait (CBK), on May 8, 2011, gave the go-ahead for Commercial Facilities Company to repurchase or sell 10 percent maximum of shares for six months till Nov 24, 2011.
The company should abide by the CBK's buyback rules and regulations, in addition to the provisions of Article No. 115 bis of Corporate Law. It should also comply with the provisions of Ministerial Decree No. 10/1987 and its amendments, by virtue of Ministerial Decrees No. 11/1988 and 273/1999.

© Arab Times 2011