KUWAIT CITY, Nov 2, (Agencies): Kuwait’s National Investments Company (NIC) posted KD 6.2 million in profits during the nine months that ended on Sept 30, 2010 with profitability of seven fils per share compared to a loss of KD 5 million and six fils per share the same period last year.
The total equity amounted to KD 208.2 million for the nine months, which ended on Sept 30, 2010 compared to KD 210.4 million for the same period last year, the company said in a statement posted on the Kuwait Stock Exchange (KSE) website. The total assets reached KD 269.2 million, while total liabilities amounted to KD 60.9 million for the nine months compared to KD 46.2 million in the same period last year, it added.

Central Bank of Kuwait approved the financial statements of Markaz Real Estate Fund (MAREF) for the third quarter periods ending Sept 30, 2010.
Maref announced a profit of KD 277,000 for the three months ending Sept 30, 2010 as compared to a profit of KD 587,000 earned during the same period last year.
Particulars (9 months ending) Sept 30, 2010 Sept 30, 2009
Profit (Loss) (KD) 1,152,966 (2,048,247)
EPS (LPS) (fils) 48 (99)
Total current assets 6,556,880 2,333,949
Total assets 33,152,418 28,642,828
Total current liabilities 2,526,125 1,396,969
Total liabilities 2,526,125 1,396,969
Total equity 30,626,293 27,245,859
Total expenses from transactions amounts to KD 189,705.

Board of Directors of the Dana Al-Safat Foodstuff Company met on Nov 2, and adopted the financial statements for the third quarter period ending Sept 30, 2010.
The company sustained a loss of KD 227,000 or 0.81 fils per share for the three months ending Sept 30, 2010 as compared to a loss of KD 370 million or 1.31 fils per share incurred during the same period last year.
Particulars (9 months ending) Sept 30, 2010 Sept 30, 2009
Profit (Loss) (KD) 1,218,984 13,633
EPS (LPS) (fils) 4.31 0.05
Total current assets 9,482,670 11,322,641
Total assets 46,902,894 46,585,523
Total current liabilities 2,469,705 2,261,046
Total liabilities 3,528,678 3,874,562
Total equity 43,152,011 42,472,392
Total income from transactions is worth KD 111,300 and total expenses from transactions amounts to KD 191,415.

Kuwait Stock Exchange (KSE) announced that the Board of Directors of the Kuwait Gypsum Manufacturing and Trading Company (Gypsum) met on Nov 2, and adopted the financial statements for the Q3 period ending Sep 30, 2010.
Gypsum earned a profit of KD 163,000, equivalent to 5.47 fils per share for the three months ending Sept 30, 2010 as compared to a profit of KD 111,000 or 3.72 fils per share earned during the same period 2009.
Particulars (9 months ending) Sept 30, 2010 Sept 30, 2009
Profit (Loss) (KD) 403,422 511,515
EPS (LPS) (fils) 12.49 17.11
Total current assets 2,783,348 3,247,037
Total assets 6,224,243 6,248,360
Total current liabilities 500,736 309,740
Total liabilities 1,454,656 1,507,708
Total equity 4,769,587 4,740,652

Independent Petroleum Group Company (IPG) reported that the Chairman of the Board of Directors approved the financial statements for the third quarter period ending Sept 30, 2010, dated Nov 2.
For the three months ending Sept 30, 2010, IPG earned a profit of KD 734,000 with earning per share valued at 5.08 fils as compared to a profit of KD 1.6 million earned for the three months ending Sept 30, 2009.
Particulars (9 months ending) Sept 30, 2010 Sept 30, 2009
Profit (Loss) (KD) 2,948,694 4,236,753
EPS (LPS) (fils) 20.40 29.28
Total current assets 213,056,129 216,823,786
Total assets 262,516,350 259,187,613
Total current liabilities 189,837,434 193,282,740
Total liabilities 196,129,154 200,163,497
Total equity 66,387,196 59,024,116
Total expenses from transactions amounts to KD 88,502,455 and total income from transactions is worth KD 88,929,760.

Warba Insurance Company’s (Warba) Board of Directors met on Nov 2, and adopted the financial statements for the Q3 period ending Sept 30, 2010.
For the three months ending Sept 30, 2010, Warba earned a profit of KD 704,000 with earning per share valued at 4.08 fils as compared to a profit of KD 753,000 or 4.41 fils per share earned for the three months ending Sept 30, 2009.
Particulars (9 months ending) Sept 30, 2010 Sept 30, 2009
Profit (Loss) (KD) 2,514,950 2,271,356
EPS (LPS) (fils) 14.57 13.28
Total current assets 44,581,621 45,703,732
Total assets 83,836,513 78,505,137
Total current liabilities 9,224,976 11,336,797
Total liabilities 37,458,942 35,830,139
Total equity 46,219,775 42,674,998
The net profit includes total income from transactions is worth KD 192,244 and total expenses from transactions amounts to KD 265,904.