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Kuwait- CFC Q1 net profit reaches KD 4.594 mln  Join our daily free Newsletter

MENAFN - Arab Times - 15/05/2012

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(MENAFN - Arab Times) Commercial Facilities Company (CFC) today announced its financial results for the three months ended March 31, 2012. Led by strong revenue growth in its core operations, CFC reported a net profit of KD 4.594 million for the first quarter in 2012 compared to KD 3.334 million for the same period in 2011, an increase of 38 per cent.
CFC's success in the first quarter of 2012 was due to its maintained marketing strategy in financing new and used cars, cash and installment loans, as well as consumer and company loans. In addition, the implementation of the debt collection policy played a vital role in maintaining the company's assets.

Commenting on the company's 2012 performance, Abdullah Saud Al Humaidhi, Chairman and Managing Director, CFC, said: "CFC's first quarter results reflects the company's extremely positive start of 2012, positioning CFC for the rest of 2012. CFC's first quarter results are a testimony of the consistent positive performance that we have been able to achieve."
"In addition to sparing no efforts to generate the highest profits, CFC always strives to apply its strategic plan with optimum precision in order to provide the best services for its customers. The company has been distinguished for its good services and the strong experience of its work team which all had led to our clients' satisfaction."
CFC is one of the leading finance companies in Kuwait with strong presence in the market for the past 35 years, thanks to its uniqueness in best serving its clients, quick processing of transactions and remarkable convenience.

Capital Market Authority (CMA) approved the interim financial statements of National Investments Company for the first quarter ending March 31, 2012 dated May 10, 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 2,917,087 (1,018,490)
EPS (LPS) (fils) 3 (1)
Tot. current assets 36,548,362 41,574,612
Tot. assets 204,714,957 258,564,544
Tot. current liabilities 16,975,731 52,834,137
Tot. liabilities 19,270,608 54,829,006
Tot. equity 185,444,349 203,735,538
Tot. revenue and expenses from transactions with related parties amounts to KD 807,381 and KD 239,242 respectively.

Tamdeen Investment Company reported that the Capital Market Authority (CMA) approved its interim financial statements for the first quarter ending March 31, 2012, dated May 10, 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 2,920,751 2,230,058
EPS (LPS) (fils) 9.81 7.43
Tot. current assets 69,062,940 93,637,895
Tot. assets 138,390,611 158,148,863
Tot. current liabilities 46,523,020 57,641,569
Tot. liabilities 46,618,801 57,736,374
Tot. equity 91,771,810 100,412,489
Total expenses from transactions with related parties amounts to KD 41,802 and revenue is worth KD 11,054.

Kuwait Stock Exchange announced that the Fujairah Cement Industries Company reported that the Board of Directors met on May 10, 2012 and approved the interim financial statements for the Q1 " 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (AED) 5,190,323 (2,671,747)
EPS (AED) 1.5 (0.8)
Profit (KD) 389,649 (201,702)
EPS (fils) 1.1 (0.6)
Tot. cur. assets (AED) 446,835,910 366,214,833
Total cur. assets (KD) 33,544,980 27,647,202
Tot. assets (AED) 1,779,410,502 778,673,506
Total assets (KD) 133,584,363 134,280,047
Tot. cur. liab. (AED) 630,873,715 468,411,730
Tot. cur. liab. (KD) 47,361,114 35,362,504
Total liab. (AED) 871 582 270 808,454,673
Total liab. (KD) 65,431,648 61,033,872
Tot. equities. (AED) 907,828,232 970,218,833
Total equity (KD) 68,152,714 73,246,175
Total revenue from transactions with related parties amounts to KD 104,742.

Strategia Investment Company obtained on May 10, 2012 the approval of the Capital Market Authority (CMA) on its financial statements for the Q1 " 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 208,569 108,812
EPS (LPS) (fils) 1.39 0.73
Total current assets 12,576,757 13,667,284
Total assets 14,165,669 21,760,543
Total current liabilities 228,147 7,223,512
Total liabilities 228,147 7,223,512
Total equity 13,877,522 14,537,031
Total expenses from transactions amounts to KD 68,720.

Manafae Investment Company obtained on May 10, 2012 the approval of the Capital Market Authority (CMA) on its financial statements for the Q1 " 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 38,430 (411,230)
EPS (LPS) (fils) 0.20 (2.12)
Total current assets 12,775,520 14,532,457
Total assets 21,770,906 25,134,518
Total current liabilities 163,852 211,304
Total liabilities 575,490 519,131
Total equity 21,195,416 24,615,387
The total revenue and expenses from transactions amounts to KD 2,609 and KD 126,000 respectively.

Kuwait Stock Exchange announced that the Al-Bareeq Holding Company reported that the Board of Directors met on May 10, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) (42,490) (84,172)
EPS (LPS) (fils) (0.35) (0.7)
Total current assets 671.188 808.487
Total assets 8,392,858 7,720,283
Total current liabilities 137,039 143,465
Total liabilities 170,947 186,369
Total equity 8,221,909 7,533,914
Total expenses from transactions with related parties amounts to KD 17,702.

Amar Finance & Leasing Company obtained on May 10, 2012 the approval of the Capital Market Authority (CMA) on its financial statements for the first quarter ending March 31, 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) (97,180) (648,312)
EPS (LPS) (fils) (0.5) (3.3)
Total current assets 10,894,560 9,408,003
Total assets 27,231,073 31,547,208
Total current liabilities 3,983,781 7,116,706
Total liabilities 6,158,314 9,415,476
Total equity 21,072,759 22,131,732
Total revenue from transactions with related parties amounts to KD 25,061.

Gulf Investment House (GIH) reported that the Capital Market Authority (CMA) approved its interim financial statements for the first quarter ending March 31, 2012 dated May 10, 2012
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 99,671 (784,574)
EPS (LPS) (fils) 0.24 (1.86)
Total current assets 14,286,020 13,658,618
Total assets 68,586,508 76,175,650
Total current liabilities 6,814,606 5,897,195
Total liabilities 49,947,728 52,676,938
Total equity 18,638,780 23,498,712
Total expenses from transactions with related parties amounts to KD 595,531.

Osoul Investment Company reported that the Capital Market Authority (CMA) approved its interim financial statements for the first quarter ending March 31, 2012 dated May 10, 2012.
Particulars
(3 months ending) Mar 31, '12 Mar 31,'11
Profit (Loss) (KD) 220,494 (239,090)
EPS (LPS) (fils) 1.17 (1.27)
Total current assets 7,310,379 4,264,415
Total assets 22,630,003 23,217,483
Total current liabilities 2,184,206 1,975,068
Total liabilities 3,437,963 4,724,904
Total equity 19,180,087 18,492,579
Total revenue from transactions with related parties amounts to KD 259,476.

Mabanee Company has slated the Ordinary and Extraordinary General Assembly meetings for May 30, 2012 to discuss the recommendation of capital increase with a maximum of 5 percent and with a maximum 29,556.650 shares allocated for merging Al Rai Logistics KSC's shares at 5.075 shares/share of Mabanee's shares.

National Real Estate Company announced that it plans to hold Ordinary General Assembly meeting on May 31, 2012 to discuss the recommendation not to distribute the dividends of the financial year 2011. It will also discuss canceling the company's listing in the Dubai Financial Market.


Ajial Real Estate and Enter Company announced holding the meeting of its Board of Directors on May 14, to discuss the financial results of the 1st quarter ended on March 31, 2012.

 






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