Commercial Bank of Kuwait logs KD 12.62 mln loss in 3rd quarter Warba earns KD 1.26 million in first nine months

KUWAIT CITY, Nov 8: Commercial Bank of Kuwait (CBK) has received approval from the Central Bank of Kuwait on the interim financial statements for the Q3 - 2012, dated Nov 8, 2012.
CBK reported a loss of KD 12,627,000 for the three months ending Sept 30, 2012 as compared to a profit of KD 6.828 million earned during the three months ending Sept 30, 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     (12,176,000)    8.289 million
Earnings per share (fils)     (9.6)    6.5
Total current assets     2,717,913,000    2,870,868,000
Total assets     3,603,256,000    3,751,851,000
Total current liabilities     2,992,589,000    3,127,328,000
Total liabilities     3,071,499,000    3,211,049,000
Total shareholders’  equity    530,814,000    539,892,000

Warba Insurance Company (Warba) has received approval from the Board of Directors on the interim financial statements for the Q3 - 2012, dated Nov 8, 2012.
Warba reported a loss of KD 20,390 for the three months ending Sept 30, 2012 as compared to a loss of KD 555,886 incurred during the three months ending Sept 30, 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     1,265,235    702,959
Earnings per share (fils)     7.33    4.07
Total current assets     42,866,409    39,943,520
Total assets     100,412,793    84,290,093
Total current liabilities     15,291,628    14,662,674
Total liabilities     55,872,278    39,618,110
Total shareholders’ equity    44,363,440    44,501,935
 Total revenue from transactions with related parties is worth KD 330,890.
Total expenses from transactions with related parties amounts to KD 101,717.

Kuwait Stock Exchange announced that the National Industries Company (NIC) reported that the Board of Directors met on Nov 8, 2012 and approved the interim financial statements for the Q3 - 2012.
UPAC reported a profit of KD 1,019,953 for the three months ending Sept 30, 2012 as compared to a profit of KD 930,280 during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     4,691,356    4,046,247
Earnings per share (fils)     13.80    11.73
Total current assets     32,696,609    33,568,310
Total assets     111,403,481    111,866,937
Total current liabilities     19,540,958    22,857,865
Total liabilities     28,285,545    31,242,662
Total shareholders’ equity    81,188,770    78,624,275
Total revenue from transactions with related parties is worth KD 1,171.
Total expenses from transactions with related parties amounts to KD 250,815.

Board of Directors of Kuwait Packing Materials Manufacturing Company (KPAK) met on Nov 8, 2012 and approved the interim financial statements for the Q3 of 2012.
The company reported a loss of KD 300,578 for the three months ending Sept 30, 2012 as compared to a profit of KD 82,534 earned during the same period ending 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     806,645    658,845
Earnings per share (fils)     19.08    15.58
Total current assets     5,570,193    4,408,260
Total assets     13,056,300    12,049,160
Total current liabilities     687,086    1,435,186
Total liabilities     960,587    2,340,893
Total shareholders’ equity     12,095,713    9,708,267
Total expenses from transactions with related parties amounts to KD 85,652.

Board of Human Soft Holding Company (HUMANSOFT) approved the interim financial statements for the period ending Sept 30, 2012, dated Nov 8, 2012.
Human Soft earned a profit of KD 150,508 for the three months ending Sept 30, 2012 as compared to a profit of KD 1,251,052 earned during the three months ending Sept 30, 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     1,479,022    1,676,686
Earnings per share (fils)     12.95    14.80
Total current assets     12,557,906    8,452,117
Total assets     42,301,853    32,638,970
Total current liabilities     11,712,270    8,693,465
Total liabilities     19,402,573    11,938,338
Total shareholders’ equity     22,899,280    20,700,632
Total expenses from transactions with related parties amounts to KD 15,000.

Kuwait Stock Exchange announced that the Ajwan Gulf Real Estate Company (Ajwan) reported that the Board of Directors met on Nov 8, 2012 and approved the interim financial statements for the Q3 - 2012.
Ajwan reported a loss of KD 14,624 for the three months ending Sept 30, 2012 as compared to a profit of KD 58,420 during the three months ending Sept 30, 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     (45,764)    (213,039)
Earnings per share (fils)     (0.46)    (2.13)
Total current assets     1,988,710    2,719,053
Total assets     7,794,811    7,569,046
Total current liabilities     81,659    48,318
Total liabilities     89,098    57,125
Total shareholders’ equity    7,705,713    7,511,921
Total revenue from transactions with related parties is worth KD 4,500.
 

Board of Directors of Kuwait Cable Vision Company met on Nov 8, 2012 and approved the interim financial statements for the Q3 of 2012.
The company reported a loss of KD 91,748 for the three months ending Sept 30, 2012 as compared to a loss of KD 240,918 incurred during the same period ending 2011.
Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     (251,370)    (1,173,547)
Earnings per share (fils)     (2.63)    (12.28)
Total current assets     1,146,589    1,546,847
Total assets     2,120,346    2,620,557
Total current liabilities     630,801    785,955
Total liabilities     751,618    886,315
Total shareholders’ equity     1,375,525    1,734,326
Total expenses from transactions with related parties amounts to KD 45,000.
 

Kuwait National Cinema Company (KNCC) received approval from the Board of Directors on the interim financial statements for the period ending Sept 30, 2012, dated Nov 8, 2012. KNCC reported a profit of KD 1,430,469 for the three months ending Sept 30, 2012 as compared to a profit of KD 973,121 during the three months ending Sept 30, 2011.
Continued on Page 39

Particulars     Sept 30, 2012    Sept 30, 2011
(9 months ending)
Profit (Loss) (KD)     4,738,568    4,426,968
Earnings per share (fils)     47.43    44.30
Total current assets     15,192,552    12,434,594
Total assets     68,104,077    68,349,671
Total current liabilities     20,651,539    22,892,326
Total liabilities     21,591,759    23,613,178
Total shareholders’ equity     46,512,318    44,736,493
Total revenue from transactions with related parties is worth KD 1,221,527.
Total expenses from transactions with related parties amounts to KD 133,888.


Kuwait Stock Exchange announced that Umm Al Qaiwain Cement Industries Company reported that the Board of Directors met on Nov 8, 2012 and approved the interim financial statements for the Q3 - 2012.
The company sustained a loss of AED 3,415,566 which is equivalent to KD 258,363 for the three months ending Sept 30, 2012 as compared to a profit of AED 221,685 (KD 16,768) earned during the same period ending 2011.
Particulars (9 months ending)      Sept 30, 2012    Sept 30, 2011
Profit (Loss) (AED)    12,233,684    12,277,767
EPS (LPS) (AED)    0.034    0.034
Profit (Loss) (KD)    925,392    928,726
EPS (fils)    2.549    2.558
Total current assets (AED)    82,729,927    98,825,277
Total current assets (KD)    6,257,936    7,475,436
Total assets (AED)    537,325,932    561,266,805
Total assets (KD)    40,644,926    42,455,885
Total current liabilities (AED)    28,884,819    27,784,301
Total current liabilities (KD)    2,184,933    2,101,686
Total liabilities (AED)    29,890,945    28,742,540
Total liabilities (KD)    2,261,039    2,174,170
Total shareholders’ equity (AED)    507,434,987    532,524,265
Total shareholders’ equity (KD)    38,383,887    40,281,714
 


Board of Directors of Automated Systems Company (ASC) met on Nov 8, 2012 and approved the interim financial statements for the Q3 of 2012.
The company reported a profit of KD 308,958 for the three months ending Sept 30, 2012 as compared to a profit of KD 178,488 earned during the same period ending 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     4,014,256    601,300
Earnings per share (fils)     100.26    15.02
Total current assets     12,853,192    9,515,796
Total assets     13,492,870    10,225,555
Total current liabilities     1,396,658    1,078,280
Total liabilities     1,845,677    1,531,822
Total shareholders’ equity     11,647,193    8,693,733
Total revenue from transactions with related parties is worth KD 286,549.
Total expenses from transactions with related parties amounts to KD 156,190.
 


Board of Specialitites Group Holding Company (SPEC) met on Nov 8, 2012 and approved the interim financial statements for the period ending Sept 30, 2012.
SPEC earned a profit of KD 1,851,749 for the three months ending Sept 30, 2012 as compared to a profit of KD 157,781 earned during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     6,162,416    3,277,096
Earnings per share (fils)     43.61    22.05
Total current assets     33,908,378    35,522,704
Total assets     47,562,793    50,648,247
Total current liabilities     9,435,916    12,977,616
Total liabilities     9,876,482    13,469,911
Total shareholders’ equity     37,078,130    36,245,456
 


Kuwait Stock Exchange announced that the Strategia Investment Company (Strategia) reported that the Capital Markets Authority approved the interim financial statements for the Q3 - 2012.
Strategia reported a loss of KD 464,392 for the three months ending Sept 30, 2012 as compared to a loss of KD 263,375 during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     (399,793)    177,914
Earnings per share (fils)     (2.67)    1.19
Total current assets     11,359,903    14,736,781
Total assets     13,248,297    17,459,846
Total current liabilities     281,825    3,284,754
Total liabilities     281,825    3,284,754
Total shareholders’ equity    12,966,472    14,175,092
Total expenses from transactions with related parties amounts to KD 177,726.
 


Munshaat Real Estate Company (Munshaat) received approval from the Board of Directors on the interim financial statements for the Q3 - 2012, dated Nov 8, 2012.
Munshaat reported a profit of KD 1,792,115 for the three months ending Sept 30, 2012 as compared to a loss of KD 1,999,313 incurred during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     1,479,192    (4,021,061)
Earnings per share (fils)     5    (12)
Total current assets     38,949,466    27,618,244
Total assets     204,540,652    209,234,527
Total current liabilities     161,420,158    149,960,752
Total liabilities     177,682,983    172,953,470
Total shareholders’ equity    27,242,122    35,174,324
Total revenue from transactions with related parties is worth KD 2,260,283
Total expenses from transactions with related parties amounts to KD 1,222,174.
 


Capital Markets Authority of approved the interim financial statements of Al Madina for Finance and Investment Company (Al-Madina) for the period ending Sept 30, 2012, dated Nov 6, 2012.
Al-Madina sustained a loss KD 2,172,393 for the three months ending Sept 30, 2012 as compared to a profit of KD 613,832 earned during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     (2,786,635)    (983,211)
Earnings per share (fils)     (7.25)    (2.56)
Total current assets     34,397,649    37,184,768
Total assets     140,826,657    141,234,298
Total current liabilities     65,064,855    31,244,862
Total liabilities     69,039,614    68,761,393
Total shareholders’ equity     61,541,048    65,339,522
Total revenue from transactions with related parties is worth KD 3,592.
Total expenses from transactions with related parties amounts to KD 86,539.
 


Kuwait and Middle East Financial Investment Company (KMEFIC) received approval from the Capital Markets Authority on the interim financial statements for the period ending Sept 30, 2012, dated Nov 6, 2012.
KMEFIC reported a loss of KD 257,327 for the three months ending Sept 30, 2012 as compared to a loss of KD 2,465,293 during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     (606,073)    (4,391,590)
Earnings per share (fils)     (2.3)    (16.8)
Total current assets     21,760,336    23,738,980
Total assets     52,645,558    59,841,836
Total current liabilities     922,693    26,899,971
Total liabilities     28,792,672    28,173,937
Total shareholders’ equity     22,259,027    29,934,119
Total revenue from transactions with related parties is worth KD 58,221
Total expenses from transactions with related parties amounts to KD (644,397).
 


Kuwait Stock Exchange announced that the Hilal Cement Company (Hilal) reported that the Board of Directors met on Nov 7, 2012 and approved the interim financial statements for the Q3 - 2012.
Hilal reported a loss of KD 60,663 for the three months ending Sept 30, 2012 as compared to a profit of KD 201,103 during the three months ending Sept 30, 2011.
Particulars (9 months ending)    Sept 30, 2012    Sept 30, 2011
Profit (Loss) (KD)     234,503    1,009,530
Earnings per share (fils)     3    14
Total current assets     10,606,364    11,376,833
Total assets     21,548,371    21,959,961
Total current liabilities     3,199,648    2,892,193
Total liabilities     5,296,111    5,159,603
Total shareholders’ equity    15,597,422    16,201,772
Total expenses from transactions with related parties amounts to KD 6,822,426.
 


Kuwait Stock Exchange announced that the Inovest Company (Inovest) reported that the Board of Directors met on Nov 7, 2012 and approved the interim financial statements for the Q3 - 2012.
The company sustained a loss of USD 180,672 which is equivalent to KD 50,769 for the three months ending Sept 30, 2012 as compared to a profit of USD 2,858,816 (KD 803,327) earned during the same period ending 2011.
Particulars (9 months ending)      Sept 30, 2012    Sept 30, 2011
Profit (Loss) (USD)    231,654    (5,950,060)
EPS (LPS) (USD)    0.08    (2.09)
Profit (Loss) (KD)    65 095    (1,671,967)
EPS (fils)    0.22    (5.87)
Total current assets (USD)    79,456,307    105,937,763
Total current assets (KD)    22,327,222    29,768,511
Total assets (USD)    299,459,630    339,783,775
Total assets (KD)    84,148,156    95,479,241
Total current liabilities (USD)    39,377,117    71,117,655
Total current liabilities (KD)    11,064,970    19,984,061
Total liabilities (USD)    118,954,617    141,791,656
Total liabilities (KD)    33,426,247    39,843,455
Total shareholders’ equity (USD)    180,505,013    197,992,119
Total shareholders’ equity (KD)    50,721,909    55,635,785
Total revenue from transactions with related parties is worth KD 1,668,694.
Total expenses from transactions with related parties amounts to KD 62,784.
 


The Central Bank of Kuwait (CBK) approved on Nov 8, 2012, the National Bank of Kuwait (NBK) request to buy or sell no more than 10% of its issued shares (in accordance with the CBK’s rules and regulations) for another six months ending on May 23, 2013.




 

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