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Future Kid eyes local, regional expansion Company raises its operating profit in 2013

KUWAIT CITY, Jan 11: The Entertainment Real Estate Future Kid company expects to continue to assist its operating and financial performance during the next years especially after its success in increasing the total of its sites to 16 sites diffused in Kuwait government and that’s after opening Awtad Algahraa (Discovery) branch and opening the new Mishref branch, buying new games and developing, renewing and upgrading some branches. In addition to inventing new characters inspired by the nature of Kuwait (SKOOLI ) and (JERBY) making new characters for Discovery agency (Dan and Terbo). The entertainment affairs manager and the vice mandatory member in the company  Fasial Almotawa has said in a press release that the company has increased the total areas of the company’s entertainment facilities in Kuwait to more than 22000 square meters while visitors limit has exceeded the million visitors limit annually and that’s according to executing the expansion and development strategy that aims to assuring our leadership in the field of making safe family entertainment industry.

Almotawaa has revealed that the company is looking forward to executing some specific projects in the next year, most notably is the opening of new branches for agencies, developing Discovery agency for sword games, using new methods to develop the complementary non entertaining resources in addition to adding innovated goods and activities to some branches during the next weeks. Regards to the company’s outdoor activity, Almotawa has revealed that the company is continuing to resuming expansions to execute its plans where it has succeeded in increasing the total areas of the Saudi Ard Alfarah company to more than 27000 square meters through opening Hafr Al-Batin branch with a space of 1700 square meters and Teeba Land branch in Medina with a space of 8000 square meters and the Qarrat branch in Medina with a space of 3000 square meters referring to studying  new plans to develop and expand some of the company’s facilities in Saudi Arabia and United Arab Emirates in addition to the chance to enter new markets.

In the same context, Almotawa has mentioned that the company has achieved its income through its operational activity in an almost complete shape where this operational activity development reflects on the financial activity which witnessed continuous improvement recently especially on 2012 where the total income has been increased by 12% to 7.2 million Dinars and the operational activities has reached 2.392 million Dinars and the net profit has reached 842 thousand Dinars expecting that this development will continue in the near future where the company has achieved income growth during the first 9 months of 2013 to 1099 Dinars which means 9.73 Fills for the Share compared to 1089 Dinars which means 9.49 Fills for the Share.
 

Almotawa has stressed on that the company is aiming to achieving contributors’ benefits through executing new strategies and future visions which concentrate on upgrading the performance to a higher level in the field of family entertainment locally and regionally, achieving excellence in providing services and sites development, creating a complete entertainment system, expansion in providing complementary trophic services, making deals with credibility and trust worthy parties in this field, investment in the field of human development to raise the educational level of students in Kuwait, continuing to executing regional studied plans, creating new income channels and the diversification of financial resources to supply the development plans.

Almotawa has expected that the Kuwaiti market is going to witness more development in the field of entertainment industry with more than 12% income annually especially in the sector of closed hall which the company is specialized in. Almotawa has said that the company has specialized in this field because of many factors like its commensurate with Kuwait climate and concentrating on tools that witness more presence by children like video games and it’s expected that the international total expenses on it is going to be around 83 million Dollard on 2016 with an annual growth of 7.2%.

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