(MENAFN - Kuwait News Agency (KUNA)) ALAFCO, Aviation Lease and Finance Company, posted total net profits reaching KD 25 million as of last September 30th with profit per share at 33 Fils.
Shareholders' equity increased 15 percent during this fiscal year, reaching KD 163.2 million while total assets stood at KD 579 million for the same period, ALAFCO Chairman of the Board and Executive Director Ahmad Al-Zabin said in a statement Monday.
Al-Zabin added the company proposed to distribute cash dividends, five Fils per share, noting that the posted profits came as in accordance with the strategic plans of the company.
The company also posted exceptional profits due to adjustments made to some of the new planes purchasing agreements with airplane industries, Al-Zabin said.
The chairman added that the company has signed agreements of purchasing 117 new planes for the period of 2017 and until 2022.