Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

Kuwait's PIC posts KD 353 mln net profit for FY 2013/14  Join our daily free Newsletter

MENAFN - Arab Times - 30/04/2014
No. of Ratings : 0
Add to Mixx!

(MENAFN - Arab Times) Wait city april 29 (kuna): kuwait petrochemical industries company (pic) tuesday posted kd 353 million in net profits for the fiscal year 2013/2014 ending on 31 march. this is a remarkable leap compared with the expected profits and that of the previous year estimated at kd 197 million and kd 229 million respectively pic's chief executive officer asaad al-saad said in a press conference. he went on to say that this leap has placed pic at the top of the most profit-making non-oil affiliates of the kuwait petroleum corporation. he attributed the profits growth to the company's outcome increase reduction of the operating costs and surge of petrochemical products prices. he pointed out that pic continued to apply many cost reducing bids including six sigma which resulted in successfully implementing 420 projects making cumulative financial surplus estimated at 140 million over seven years. ammonia and urea production jumped to 660000 metric tons and 1.3 million metric ton respectively compared with 599000 metric tons and 875000 metric ton a year earlier al-saad unveiled.

kuwait petroleum corporation (kpc) the state-owned entity responsible for kuwait's hydrocarbon interests throughout the world has signed a contract with indonesia's pt. yosomulyo jajag to supply the indonesian market with petroleum coke. kpc fuel oil sales chief sheikh salah al-sabah said in a press statement that the agreement was concluded during his meeting with a visiting delegation of pt. yosomulyo jajag which is a leading petroleum coke supplier in indonesia.

the kuwait stock exchange company announces that the board of directors of the al-themar international holding co. met on monday april 28 2014 and approved the annual financial statements of the company for the year ended march 31 2014 as follows:

particulars    31/3/14    31/3/2013

profit (loss) (kd)    5745439    1392341

eps (fils)    5.68    1.38

total current assets:    13398204     11753683

total assets:    189660317    156900423

total current liabilities:    60384223    60373422

total liabilities:    60554338    60505040

total shareholders' equity:    129105979    96395383

the board of directors to distribute cash dividend of 5% of the nominal value of shares i.e. 5 fils per share for the year ended 31.3.2014

note that these recommendations are subject to approval by the general assembly and the competent authorities.

the kuwait stock exchange announces that the board of directors of aqar real estate investments co. met on monday april 28 2014 and approved the interim financial statements of the company for the period ended 31/3/2014 as follows:

particulars for 3 months ended 31/3/2014 and 3 months ended 31/3/2013

profit (kd)    151436    152553

eps (fils)    0.66    0.67

total current assets:    9871184    6432526

total assets:    26646835    24412618

total current liabilities:    1574178    454768

total liabilities:    1601246    468008

total shareholders' equity:     25044625    23918251


Arab Times

  MENA News Headlines
 Oct 4 2015 - Qatar might not need to hike interest rates: Central Bank governorGulf Times
(MENAFN - Gulf Times) Qatar, whose currency is pegged to the dollar, may not necessarily increase the interest rates, following an anticipated lift-off by the US Federal Reserve later this year; ...

 Oct 4 2015 - Jelaiha intersection opens to trafficGulf Times
(MENAFN - Gulf Times) The Jelaiha intersection was recently opened to traffic, the Public Works Authority (Ashghal) has announced. The opening constitutes Phase 1 of upgrading Al Khafji Street and ...

 Oct 4 2015 - FM lays stress on right to educationGulf Times
(MENAFN - Gulf Times) HE the Foreign Minister Dr Khalid bin Mohamed al-Attiyah has stressed the need to prioritise the right to education as millions of children around the world are still deprived ...

 Oct 4 2015 - Qatar- ASPIRE4SPORT event starts tomorrowGulf Times
(MENAFN - Gulf Times) ASPIRE4SPORT Congress and Exhibition 2015 is an exclusive two-day event and networking session opens in Berlin tomorrow. The event features a Global Summit related to football ...

 Oct 4 2015 - OIC must intensify efforts to face challenges: QatarGulf Times
(MENAFN - Gulf Times) The Organisation of Islamic Co-operation (OIC) must intensify its efforts in the face of challenges faced by people in Palestine, Syria, Iraq, Libya and Yemen as well to fight ...

 Oct 4 2015 - Qatar- Yaris and Corolla cars recalledTweetGulf Times
(MENAFN - Gulf Times) The Ministry of Economy and Commerce (MEC), in collaboration with Abdullah Abdulghani & Bros Co (AAB), has announced a recall of 2003-2007 Toyota Yaris and Corolla models due to ...

 Oct 4 2015 - Qatar- Meeting on women, crime preventionGulf Times
(MENAFN - Gulf Times) Qatar's Permanent Mission to the UN, in collaboration with Italy, Thailand, and the UN Office on Drugs and Crime (UNODC) hosted a meeting on "Women, Crime Prevention, Criminal ...

 Oct 4 2015 - Qatar- SEC renews school robotics programmeGulf Times
(MENAFN - Gulf Times) The Supreme Education Council (SEC) has signed a Memorandum of Understanding (MoU) with Maersk Oil Qatar (MOQ), the College of North Atlantic-Qatar (CNA-Q) and Qatar Petroleum ...

 Oct 4 2015 - Stars of Science shortlists innovators for 7th seasonGulf Times
(MENAFN - Gulf Times) Stars of Science, Qatar Foundation for Education, Science and Community Development (QF)'s "edutainment reality" TV programme on MBC4 that encourages science, technology and ...

 Oct 4 2015 - Qatar- QU college hosts delegates from LNG Japan, RasGasGulf Times
(MENAFN - Gulf Times) Qatar University College of Education (QU-CED) recently hosted a visit by a six-member delegation from LNG Corporation (LNG Japan) and RasGas Company Limited (RasGas).QU ...




Click to Apply


Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  

Middle East North Africa - Financial Network

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices


Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks

Saudi Arabia 

Economic Calendar
Financial Glossary

Financial Calculators

RSS Feeds [XML]

Corporate Monitor


Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters

© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help