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Kuwait- KAMCO logs KD 0.40 million net profit in Q1 EPS 1.68 fils  Join our daily free Newsletter

MENAFN - Arab Times - 16/05/2012

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(MENAFN - Arab Times) KAMCO (KIPCO Asset Management Company KSC) today reported its financial results for the first quarter ended March 31, 2012. The Company recorded a net profit of KD 0.40 million with earnings-per-share (EPS) of 1.68 fils in Q1 FY12.

In the first quarter, KAMCO realized a net income of KD 0.40 million and total revenues of KD 2.61 million, with strong contributions from investment/trading income.

CEO and Managing Director of KAMCO, Sadoun Abdullah Ali commented, "The company has had to make some very difficult managerial decisions in order to secure its future.

These financial indicators are evidence of an extremely tough financial environment and underline the wisdom and knowhow of our managers. These figures are the first signs of the strengthening of our financial position, and KAMCO is still on course to successfully weather this storm and is on track to provide its clients with exciting new investment opportunities.

For example, we have already reduced our net debt to KD 56 million in 2012 through funds generated from asset sales and have already been mandated for a number of new transactions in 2012 in its investment banking activity and will build further on its past success in placing debt and equity transactions with clients."

National Industries Group Holding Company reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 9,421,000 1,941,000
EPS (LPS) (fils) 7 2
Total current assets 375,581,000 435,539,000
Total assets 1,538,361,000 1,590,625,000
Total current liabilities 560,358,000 702,509,000
Total liabilities 966,629,000 993,352,000
Total equity 571,732,000 597,273,000
Total expenses from transactions with related parties amounts to KD 888,000.

Kuwait Food Company reported that the Board of Directors met on May 13, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 16,119,000 15,945,000
EPS (LPS) (fils) 41.2 40.8
Total current assets 278,166,000 227,204,000
Total assets 622,833,000 599,785,000
Total current liabilities 244,698,000 210,090,000
Total liabilities 306,739,000 278,239,000
Total equity 280,788,000 286,436,000
The total revenue from transactions with related parties amounts to KD 64,000.

Kuwait Financial Centre (Markaz) obtained on May 14, 2012 the approval of the Capital Market Authority (CMA) on its financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 2,823,000 (748,000)
EPS (LPS) (fils) 6 (2)
Total current assets 78,312,000 62,697,000
Total assets 145,529,000 130,136,000
Total current liabilities 30,611,000 12,543,000
Total liabilities 54,396,000 42,114,000
Total equity 87,728,000 87,048,000
Total revenue from transactions with related parties is worth KD 1,778,000 and expenses amounts to KD 181,000.

First Investment Company obtained on May 14, 2012 the approval of the Capital Market Authority (CMA) on its financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 2,049,649 (194,719)
EPS (LPS) (fils) 3.1 (0.30)
Total current assets 68,611,879 72,921,990
Total assets 158,210,482 207,282,938
Total current liabilities 16,297,047 67,405,554
Total liabilities 46,324,235 114,591,064
Total equity 92,016,325 83,530,068
Total revenue from transactions with related parties is worth KD 14,345 and expenses amounts to KD 375,801.

Tamdeen Real Estate Company reported that the Board of Directors met on May 13, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 2,216,894 1,718,908
EPS (LPS) (fils) 6 4.6
Total current assets 49,030,186 73,098,449
Total assets 270,135,026 304,834,446
Total current liabilities 63,041,866 81,281,423
Total liabilities 125,285,971 149,926,861
Total equity 99,009,602 104,703,447
The total revenue and expenses from transactions amounts to KD 94,054 and KD 237,501 respectively.

Kuwait Stock Exchange announced that the Al-Ahleia Insurance Company (AINS) reported that the Board of Directors met on May 13, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 1.419.723 1.379.140
EPS (LPS) (fils) 7.66 7.44
Total current assets 66,562,148 56,664,302
Total assets 152,752,634 145,461,543
Total current liabilities 19,793,416 17,879,187
Total liabilities 68,206,733 65,327,648
Total equity 84,545,901 80,133,895
Total expenses from transactions with related parties amounts to KD 207,730. The total revenue from transactions with related parties is worth KD 2,125,173.

Board of Directors of Automated Systems Company met on May 14, 2012 and approved its financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 3,399,895 200,473
EPS (LPS) (fils) 84.91 5.01
Total current assets 12,860,451 9,881,895
Total assets 13,538,254 10,641,982
Total current liabilities 1,036,701 900,080
Total liabilities 1,504,422 1,348,076
Total equity 12,033,832 9,293,906
The total revenue and expenses from transactions amounts to KD 94,318 and KD 47,754 respectively.

Board of Directors approved the interim financial statements of Gulf Cable and Electrical Industries Company for the first quarter ending March 31, 2012 dated May 14, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 8,677,950 5,884,999
EPS (LPS) (fils) 41 28
Total current assets 81,220,620 88,432,910
Total assets 237,521,535 304,586,764
Total current liabilities 42,505,201 91,568,272
Total liabilities 70,219,785 103,509,632
Total equity 166,868,451 200,806,276
Total revenue and expenses from transactions with related parties amounts to KD 166,906 and KD 35,917 respectively.

Kuwait Stock Exchange announced that the Heavy Engineering Industries and Shipbuilding Company reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 749,975 1,076,913
EPS (LPS) (fils) 4.59 6.59
Total current assets 62,678,314 46,653,971
Total assets 99,900,866 81,351,477
Total current liabilities 60,858,018 44,872,083
Total liabilities 67,182,702 51,255,842
Total equity 32,718,164 30,095,635
The total expenses from transactions amounts to KD 89,564.

Kuwait Stock Exchange announced that the Ajial Real Estate Entertainment Company reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 91,.047 (762,856)
EPS (LPS) (fils) 0.52 (4.35)
Total current assets 20,292,368 23,149,243
Total assets 336,797,175 227,980,932
Total current liabilities 30,024,229 28,950,997
Total liabilities 128,599,555 123,581,946
Total equity 114,744,582 58,493,881

Taiba Kuwaiti Holding Company (Taiba) reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 1,874,587 664,169
EPS (LPS) (fils) 10.41 3.69
Total current assets 7,879,858 6,778,706
Total assets 20,830,362 19,705,659
Total current liabilities 1,147,638 2,026,414
Total liabilities 1,147,638 2,526,414
Total equity 19,689,724 17,179,245

Kuwait Stock Exchange announced that the First Takaful Insurance Company reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 75,083 1,129
EPS (LPS) (fils) 0.75 0.01
Total current assets 1,609,505 1,545,974
Total assets 13,965,206 13,645,781
Total current liabilities 75,828 127,515
Total liabilities 5,422,751 3,817,423
Total equity 8,542,455 9,828,358
The total revenue from transactions with related parties is worth KD 13,189.

Manazel Holding Company reported that the Board of Directors met on May 14, 2012 and approved the interim financial statements for the Q1 - 2012.
PParticulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) (740,005) (889,835)
EPS (LPS) (fils) (1.03) (1.24)
Total current assets 6,406,781 6,093,645
Total assets 114,169,356 122,275,239
Total current liabilities 27,810,594 27,176,176
Total liabilities 68,076,781 64,634,441
Total equity 36,059,958 47,410,396
Total expenses from transactions with related parties amounts to KD 211,783.

Board of Directors of Specialities Group Holding Company met on May 14, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 1,490,156 639,375
EPS (LPS) (fils) 10.07 4.3
Total current assets 31,569,506 30,066,102
Total assets 46,195,627 43,621,192
Total current liabilities 12,041,106 7,487,157
Total liabilities 12,528,327 7,964,520
Total equity 33,090,719 34,654,075
Total expenses from transactions with parties related amounts to KD 36,642.

Kuwait Stock Exchange announced that the Gulf Investment Petroleum reported that the Board met on May 13, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (Loss) (KD) 177,660 628,992
EPS (LPS) (fils) 0.81 2.87
Total current assets 7,671,528 7,269,772
Total assets 49,733,207 51,813,413
Total current liabilities 14,322,936 15,099,660
Total liabilities 25,963,097 29,123,690
Total equity 23,770,110 22,689,723

Kuwait Stock Exchange announced that the Ithemaar Bank reported that the Board of Directors met on May 13, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars March 31, 2012 March 31, 2011
(3 months ending)
Profit (USD) (719,000) 3,542,000
EPS (USD) (0.0003) 0.0013
Profit (KD) (199,810) 940,401
EPS (fils) (0.08) 0.35
Total current
assets (USD) 3,658,611,000 3,090,291,000
Total current
assets (KD) 1,016,727,997 820,472,261
Total assets (USD) 7,171,605,000 6,585,708,000
Total assets (KD) 1,992,989,030 1,748,505,474
Total current
liabilities (USD) 5,746,619,000 5,776,958,202
Total current
liabilities (KD) 1,596,985,420 1,533,782,403
Total liabilities (USD) 6,343,552,000 5,691,819,000
Total liabilities (KD) 1,762,873,379 1,511,177,945
Total shareholders'
equity (USD) 594,368,000 656,614,000
Total shareholders'
equity (KD) 165,174,867 174,331,017
The total revenue and expenses from transactions amounts to KD 4,947,732 and KD 7,781 respectively.

Kuwait Stock Exchange announced that the United Projects Company (UPAC) reported that the Board of Directors met on May 13, 2012 and approved the interim financial statements for the Q1 - 2012.
Continued on Page 35

Particulars (3 months ending) March 31, 2012 March 31, 2011
Profit (Loss) (KD) 1,871,700 197,176
EPS (LPS) (fils) 23.76 2.48
Total current assets 13,915,756 10,648,430
Total assets 42,523,361 40,414,798
Total current liabilities 7,807,978 6,571,643
Total liabilities 8,876,503 8,358,323
Total equity 30,889,367 29,136,966
Total expenses and revenue from transactions with related parties amounts to KD 955 and KD 31,938 respectively.

Board of Directors of Kuwait United Poultry Company met on May 13, 2012 and approved the interim financial statements for the first quarter ending March 31, 2012.
Particulars (3 months ending) March 31, 2012 March 31, 2011
Profit (Loss) (KD) 530,825 638,075
EPS (LPS) (fils) 4.74 5.7
Total current assets 5,631,402 4,680,087
Total assets 18,237,615 15,822,653
Total current liabilities 2,864,610 2,136,362
Total liabilities 3,907,827 3,434,349
Total equity 14,329,788 12,388,304

Privatization Holding Company's (Privatization) Board of Directors met on May 13, 2012 and approved the interim financial statements for the Q1 - 2012.
Particulars (3 months ending) March 31, 2012 March 31, 2011
Profit (Loss) (KD) 112,986 2,530,420
EPS (LPS) (fils) 0.2 3.40
Total current assets 124,133,385 135,976,507
Total assets 233,329,542 243,181,595
Total current liabilities 125,572,666 112,628,265
Total liabilities 126,032,063 112,934,229
Total equity 106,280,662 110,127,496
The total revenue and expenses from transactions amounts to KD 33,967 and KD 1,009 respectively.

 






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