KUWAIT CITY : Aref Investment Group Company (AIG) announced a profit of KD 27.4 million for the first half ending June 30, 2008 with earnings of 42 fils per share. The profits rose by KD 3.6 million from a profit of KD 2.38 million for the same period of 2007 and earnings per share of 45 fils. The company obtained the approval of the Central Bank of Kuwait on its financial statements for interim periods ending June 30, 2008, dated Aug 14, 2008.The net profit includes unrealized profit of KD 20,083,118, unrealized revenue worth KD 1,087,837 and expenses due from transactions amounting to KD 3,820,245. For the three months ending June 30, 2008 AIG earned a profit of KD 13.8 million with earning per share of 21 fils compared a profit of KD 14.1 million of 2007.
Mushrif Trading & Contracting Company (MTCC) incurred a loss of KD 1.6 million for the six months ending June 30, 2008. The Board of directors approved its financial statements for interim periods ending June 30, 2008, dated Aug 14, 2008. During the same period of 2007, the company's loss amounted to KD 2 million.
The losses for the three months of June 30, has fallen by 16 percent from KD 2.5 million of 2007 to 2.1 million for the year 2008.
National Real Estate Company (NRE) hits a net profit of KD 14.9 million for the first half ending June 30, 2008 with earnings of 19.18 fils per share compared to a profit of KD 22 million for the same period of 2007. The board of directors of NRE met on Thursday Aug 14, 2008 approved and adopted the financial statements for the periods ending June 30, 2008. The net profit includes unrealized losses of KD 808,376, unrealized revenue worth KD 240,364 and expenses due from transactions amounting to KD 90,998.
During the second quarter period ending June 30, 2008 NRE earned a profit of KD 5.5 million compared to KD 10.1 million earned during the same period of 2007.
© Arab Times 2008
