ACICO Q3 profit touches KD 6.8 mln
KUWAIT : Kuwait Food Company held its meeting on Nov 13, 2007 where the Governing Council discussed the company's financial statement for the third quarter of this year ending Sept 30, 2007. The company said to have earned a profits of KD 43,805,000 with a profitability of per share valued at 168 fils for the third quarter compared to KD 17,775,000 with a profitability of per share valued at 68 fils within the same period in 2006. For the three months ending Sept 30, 2007, the company earned a profit of KD 4,972,000 with earnings per share of 19 Kuwaiti fils and a profit of KD 8,098,000 with earnings per share of 31 Kuwaiti fils for the same period last year. The net profit includes unrealized profit of KD 17,878,000, unrealized revenue worth KD 520,000 and outstanding expenses worth KD 1,967,000. Established on Dec 29, 1963, Kuwait Food Company is Middle East's most successful group of companies operating consumer foods, restaurants, and food-related products. This amazing success story started out in Kuwait in 1964 with the establishment of a small trading company, which opened its first restaurant in 1970. This was the region's first experience with international chain of restaurants.
Kuwait Stock Exchange (KSE) announces that Aerated Concrete Industries Company (ACICO) posted a profit of KD 6.8 million for the third quarter period this year. The company met on Nov 14, 2007 and adopted the financial statements of the company, earning a profit of KD 2,103,620 for the 3 months ending Sept 30, 2007 and KD 6,892,000 for the 9 months ending Sept 30, 2007 with EPS valued at 10.84 fils and 35.86 fils respectively. The net profit includes unrealized profit of KD 1,937,625. During the corresponding period last year the company earned a profit of KD 1,649,023 with earning per share of 10.53 fils for the three months ending Sept 30, 2006 and KD 5,242,009 with earning per share of 34.77 fils for the 9 months ending Sept 30, 2006. 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.
Kuwait Stock Exchange announces that Al-Massaleh Real Estate Company met on Nov 13, 2007 and adopted the financial statements for the periods ending Sept 30, 2007. The company posted profit of KD 71,510 with EPS valued at 0.37 fils for the 3 months ending Sept 30, 2007 and KD 2,924,674 with EPS valued at 14.87 fils for the 9 months ending Sep 30, 2007. Note that net profit includes unrealized profits of KD 1,856,785 and outstanding expenses amounting to KD 192,096. During the corresponding period last year it earned KD 171,445 with EPS of 0.86 fils for the 3 months ending Sept 30, 2006 and KD 76,884 with EPS of 0.39 fils for 9 months ending Sept 30, 2006. Al Massaleh was formed in 1989 with total assets of KD 9,157,005. The family vision was to establish a major company shifting from a traditional family managed business into a real estate corporation.
Palms Agro Production Company posted a profit of KD 585 thousand for the third quarter period this year. The company met on Nov 13, 2007 and adopted the financial statements of the company, earning a profit of KD 50,737 for the 3 months ending Sept 30, 2007 and KD 585,137 for the 9 months ending Sept 30, 2007 with EPS valued at 1.59 fils and 18.31 fils respectively. The net profit includes unrealized loss of KD 59,756. During the corresponding period last year the company earned a profit of KD 86,135 with earning per share of 2.70 fils for the three months ending Sept 30, 2006 and KD 281,554 with earning per share of 8.81 fils for the 9 months ending Sept 30, 2006. Palms Agro Production Co K.S.C.C. is a Kuwaiti shareholding company incorporated on May 23, 1982 and listed at the KSE on March 10, 2002. It is engaged in the execution of agricultural contracting works, import and export of agricultural supplies, as well as the setting-up and management of nurseries. Securities House K.S.C.C is a major shareholder in the company.
Kuwait Stock Exchange (KSE) announces that Gulf Franchising Company posted a profit of KD 886,000 for the third quarter period this year. The company met on Nov 13, 2007 and adopted the financial statements of the company, earning a profit of KD 26,488 for the 3 months ending Sept 30, 2007 and KD 886,319 for the 9 months ending Sept 30, 2007 with EPS valued at 0.22 fils and 7.51 fils respectively. The net profit includes unrealized loss of KD 785,559, unrealized revenue worth KD 96,678 and outstanding expenses amounting to KD 172,151. During the corresponding period last year the company earned a profit of KD 1,545,234 with earning per share of 14.44 fils for the three months ending Sept 30, 2006 and KD 3,882,028 with earning per share of 33 fils for the 9 months ending Sept 30, 2006.
© Arab Times 2007
