ACICO's H1/2007 net profit hits KD 4.7 mln
KUWAIT CITY: Aerated Concrete Industries Company (ACICO) met Monday July 16, 2007 and adopted the interim financial statement of the company for the periods that ended on June 30, 2007. Profits gained in the first quarter of this year amounted to KD 2,020,254 with per share valued at 10.45 Kuwaiti fils compared to KD 1,462,178 with per share valued at 9.48 Kuwaiti fils earned within the same period in 2006. The company posted a profit of KD 4,788,990 with the earnings per share valued at 25.06 Kuwaiti fils in the first half of this year compared to KD 3,592,986 with per share valued at 24.16 Kuwaiti fils gained within the same period in 2006. Note that the net profit includes an unrealized amount estimated at KD 1,971,125 in the first six months that ended on June 30, 2007. ACICO was established in June, 1990 as a Kuwait Shareholding Closed Company (K.S.C.C.) under license from Hebel International-Germany. The company's plants are located in Shuaibah Industrial Area in the State of Kuwait, UAE, Qatar, and Saudi Arabia. Heavy duty, light weight building units of reinforced and non-reinforced concrete are manufactured with the most advanced autoclaves using basic raw materials such as quartz sand, cement, and lime.
The Governing Council of Aviation Lease and Finance Company (ALAFCO) will meet at 1:00 pm on Tuesday July 17, 2007 to discuss the interim financial statement of the company for the third quarter of this year ending June 30, 2007.
The Board of Directors of Kuwait Real Estate Holding Company (KREHC), Kuwait Company for Process Plant Construction and Contracting (KCPC) will meet on Wednesday July 18, 2007 to discuss the interim financial statements of their respective companies for the second quarter of this year ending June 30, 2007.
Warba Insurance Company (Warba) will hold its general assembly meeting at 10:30 am on Wednesday July 25, 2007 in the Ministry of Commerce and Industry to approve the resignation of the incumbent Board members and election of new members.
The Governing Council of Human Soft met Sunday July 15, 2007 where they agreed to increase the company's capital by 100 per cent from KD 5,712,000 to KD 11,424,000 at 100 fils per share without any further issuance. Priority rights in the underwriting of the shares will be given to the shareholders registered on the records of the company's general assembly. The Board Chairman has approved the proposal to open the subscription to new shareholders in the absence of full subscription by the current shareholders to increase capital.
Kuwait Stock Exchange (KSE) has announced that Gulf Cables and Electrical Industries Company (GCEIC) received a request dated July 16, 2007 on the purchase of connectors to supply lines to the Ministry of Electricity and Water (MEW) for a period of six to eight months amounting to KD 2,437,000.
Al-Enmaa Real Estate Company (Al-Enmaa) has signed a real estate contract for the establishment and maintenance of the basement, ground and first level as well as the parking area at the Foreign Affairs Ministry building in Jahra at a total value of KD 2,970,000.
© Arab Times 2007
