(MENAFN - Arab Times) In a webcast attended by local and international analysts, award winning Jazeera Airways Group today announced a record net profit of KD1.2 million for Q1 2012, making the quarter the seventh straight profitable quarter since Q3 2010 despite increasing fuel costs and political turmoil in some of its destinations.
Q1'12 Financial Highlights:
* Q1'12 Operating revenue: KD12.7 million, up 11.8% from Q1'11's KD11.4 million
* Q1'12 Operating profit: KD2.3 million, up 25.5% from Q1'11's KD1.8 million
* Q1'12 Net profit: KD1.2 million, up 17.8% from Q1'11's KD1.0 million
* Q1'12 Average yield: up 20.7% from Q1'11's
The results reflect the success of the company's Turn-Around Plan that was implemented in second quarter 2010 and had steered the company into continued profitability for the last seven quarters.
Jazeera Airways Group Chairman Marwan Boodai said, "This is the first time in our history that we record seven straight quarters of profitability. Our strong performance clearly demonstrates the agility of the company's business model, which continues to perform in the wake of increasing fuel costs and political turmoil in Syria."
Established in 2005, Jazeera Airways Group is a Kuwait Stock Exchange-listed with a fleet of 12 fully-owned Airbus A320s, evenly distributed between its airline business, Jazeera Airways, and its fully-owned leasing-arm Sahaab Aircraft Leasing. Sahaab has assets placed with Virgin America, SriLankan Airlines, and Jazeera Airways.
Second Quarter and Full Year Outlook
The company's outlook for 2012 continues to be positive in-line with a growing Kuwaiti economy, which continues to witness higher incomes despite international and regional economic pressures. The company's forecasts remain unchanged and expects a mild second quarter, a seasonal increase in demand in the third quarter, and a mild fourth quarter to close the year.
ACICO Industries Company (ACICO) reported that the Board of Directors met on May 2, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars (3 months March 31, March 31,
ending) 2012 2011
Profit (Loss) (KD) 1.422.982 713.028
EPS (LPS) (fils) 6.11 3.02
Total current assets 21,965,614 21,800,556
Total assets 242,667,007 240,987,423
Total current liabi-
lities 39,099,054 32,844,935
Total liabilities 159,324,127 158,115,948
Total equity 78,935,516 78,670,731
The total revenue is worth KD 11,739 and expenses from transactions amounts to KD 9,978.
Kuwait Stock Exchange announced that the Ekttitab Holding Company (Ekttitab) reported that the Board of Directors met on May 1, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars (3 months March 31, March 31,
ending) 2012 2011
Profit (Loss) (KD) 1,881,160 (2,600,106)
EPS (LPS) (fils) 8.29 (5.16)
Total current assets 29,523,279 27,300,070
Total assets 33,270,243 29,468,782
Total current liabilities 7,557,035 8,459,100
Total liabilities 7,567,777 8,487,392
Total equity 25,702,466 20,981,390
The total expenses amounts to KD 88,375.
Kuwait Stock Exchange announced that the Kuwait Foundry Company (KFC) reported that the Board of Directors met on May 2, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars (3 months March 31, March 31,
ending) 2012 2011
Profit (Loss) (KD) 1,393,922 551,953
EPS (LPS) (fils) 9.52 3.77
Total current assets 7,950,858 9,233,633
Total assets 50,972,732 54,664,086
Total current liabilities 659,831 2,980,048
Total liabilities 1,408,846 3,697,210
Total equity 49,563,886 50,966,876
The total revenue is worth KD 75,104.
Board of Directors of Future Kid Entertainment Real Estate Company met on May 2, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars (3 months March 31, March 31,
ending) 2012 2011
Profit (Loss) (KD) 68,212 13,991
EPS (LPS) (fils) 0.55 0.12
Total current assets 2,463,950 3,281,104
Total assets 23,980,811 23,837,105
Total current liabilities 1,978,172 3,210,504
Total liabilities 3,324,981 3,932,216
Total equity 20,366,869 19,593,463
The total revenue and expenses from transactions amounts to KD 24,284 and KD 82,139 respectively.
Board of Directors of Dulaqan Real Estate Company (Dulaqan) met on May 1, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars (3 months March 31, March 31,
ending) 2012 2011
Profit (Loss) (KD) 49,258 55,579
EPS (LPS) (fils) 1.23 1.39
Total current assets 1,648,219 1,431,388
Total assets 4,420,721 4,416,592
Total current liabilities 18,796 27,239
Total liabilities 29,070 35,524
Total equity 4,391,651 4,381,068
