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Noor posts net profit of KD 9.05 mln in ’13 NREC earns KD 15.34 mln

KUWAIT CITY, March 27: Noor Financial Investment Company declared its results for the year 2013 achieving a net profit of KD 9.05 million (Earnings per Share of 24.71fils)representing a growth of 100% compared to the net profit of KD 4.52 million (Earnings per Share of 12.34fils) last year. Abdullatif Al Asfour, Noor’s Chairman and Managing Director, said that these results were achieved through the implementation of the Company’s strategic plan. The company has repaidpart of its liabilities to the banks and reduced the debt over the past year in line with the approved restructuring plan. Al Asfour also declared that the company’s board has proposed 10% bonus shares distribution on outstanding shares for the year 2013 subject to obtaining approval of the relevant authorities and the General Assembly of the company.

The Kuwait Stock Exchange Company announces that the Board of Directors of National Real Estate Company met on Wednesday 26/3/2014, and approved the annual financial statements of the company for the year ended 31/12.2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss) (KD)    15,346,157    7,831,615
EPS (fils)    18.86    9.63
Total current assets    38,077,463    42,298,492
Total assets    522,031,570    512,652,936
Total current liabilities    163,627,013    114,987,749
Total liabilities    322,776,437    322,207,628
Total shareholders’ equity    199,255,133    190,445,308
The total revenue from transactions with related parties is worth KD 916,671
The total expenses from transactions with related parties is worth KD 62,987
The Board of Directors has recommended the distribution of bonus shares of 5 percent of paid-up capital (5 shares for every 100 shares) for the year ended 31.12.2013
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.
 

The Kuwait Stock Exchange Company announces that the Board of Directors ACICO Industries met on Wednesday 26/3/2014, and approved the annual financial statements of the company for the year ended 31.12.2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss) (KD)    6,413,542    2,641,382
EPS (fils)    25.88    10.66
Total current assets    21,915,291    22,440,110
Total assets    250, 378,266    242,445,237
Total current liabilities    20,557,402    20,218,931
Total liabilities    161,689,006    158,882,251
Total shareholders’ equity    84,199,873    79,487,239
The total revenue from transactions with related parties is worth KD 0.000
The total expenses from transactions with related parties is worth KD 186,577
The Board of Directors has recommended distributions cash dividend of 10 percent of the nominal value of shares i.e. 10 fils per share and distribution of bonus shares of 5 percent of paid-up capital 5 shares for every 100 shares for the year ended 31.12.2013
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.

The Kuwait Stock Exchange Company announces that the Board of Directors of Al-Argan International Real Estate Co. met on Wednesday 26/3/2014, and approved the annual financial statements of the company for the year ended 31.12.2013 as follows:
Particulars    31/12/2013    31/12/2012
Profit (loss) (KD)    3,864,390    4,378,373
EPS (fils)    15.08    17.09
Total current assets    40,496,904    32,281,162
Total assets    142,754,899    127,306,938
Total current liabilities    23,754,623    19,287,682
Total liabilities    71,648,887    58,200,211
Total shareholders’ equity     71,106,012     69,106,727
The total revenue from transactions with related parties is worth KD 570,746
The total expenses from transactions with related parties is worth KD 437,607
The Board of Directors has recommended distributions of cash dividend of 7 percent of the nominal value of the shares i.e. 7 fils per share for the year ended 31.12.2013
Note that these recommendations are subject to approval by the General Assembly and the competent authorities.






 

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