KBMMC posts KD 411,453 annual profit; EPS 14.2 fils

KUWAIT CITY, Jan 20: Kuwait Stock Exchange (KSE) announced that the board of the Kuwait Building Materials Manufacturing Company (KBMMC) had met on Jan 20, 2013, and adopted the annual financial statements of the company for the year ending Dec 31, 2012.
    Dec 31,’12    Dec 31, ’11
Profit (Loss) (KD)     411,453    183,142
Earnings per share (fils)     14.2    6.3
Total current assets     3,296,058    2,942,549
Total assets     6,483,323    6,348,421
Total current liabilities    806,312    726,853
Total liabilities    1,508,863    1,641,039
Total shareholders’ equity    4,974,460    4,707,382
Total expenses from transactions with related parties amounts to KD 139,185.
The Board of Directors of the company recommended the following distributions for the year ending Dec 31, 2012 to shareholders registered in the company’s records.
n Cash dividends of 5% of the nominal value of the shares i.e. 5 fils per share.
n Distribution of bonus shares at 5% of the paid up capital i.e. 5 shares for every 100 shares.
Note that these recommendations are subject to approval by the shareholders and the competent authorities.

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