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Future Kids officials seen during the AGM
Future Kids AGM approves distribution of 7 fils per share Company eyes more expansion, looks to boost investment

KUWAIT CITY, April 19: Chairman and Managing Director of Future Kid Entertainment and Real estate (Future Kid) Khalid Ahmed Saud Al-Khaled stated “The Company is planning to resume its expansion plans and increase its investment in the future to keep up with the growing demand for entertainment products in Kuwait and the region in General.” “The operational and financial actions achieved through 2013 reflect the Administration’s determination to confirm the company’s leadership in the industry of family entertainment”. Al-Khaled said in press release on Thursday morning, 17 April 2014 after the AGM and EGM of the company that has been attended by 91.26 % and the endorsement of the Board of Directors’ recommendations of distributing 7% cash 7 Fils per share to all shareholders in the company records.

Al-Khalid said “The Company succeeded, due to the staff’s effort, in achieving its desired goals. It gained 7.5 million KD as total revenue while its operating profit reached 7.2 million KD with an increase of 5.7% compared to 2012. The company’s net profit reached 897 thousand KD in 2013 compared to 842 thousand KD in 2012 while the share earns 8 Fils compared to 7.34 Fils.” Al-Khalid predicted “The company resumes its strong operational and financial performance in the following years especially after its success in increasing the total sites it manages to 16 locations spread all over Kuwait’s governorates. The Company strengthens its activity by inaugurating a new site for Discovery Al-Saif Co. in Awtad mall located in Al-Jahra of about 420 sqm and opening Future Kid new site in Meshrif with an area of about 484 sqm.”

“The company is eager to create an integrated entertainment system by adding (Branded character) to its name through the new character of (SKOOLI) and (JERBY) inspired from the nature of Kuwait and Adding another (Branded character) to Discovery Al-Saif Co through the characters of (Dan & Turbo). The Media Campaign of these things will start in mid-August.” Al-Khalid asserted The company has also bought new developed games and innovated new children gifts through cartoons characters SKOOLI and JERBY. In addition, the company made new modern decorations for its branch in Salmiya and updated games in some branches. These things reflected on the company’s operating income.

 “The Company is about to make some new projects by 2014. It will open new branches for agencies, develop the games of Discovery Al-Saif Co, adopting new methods for improving resource from other activities, adding new activities , introducing new products and innovative services in a some branches in the future . In addition, there are negotiations to open new locations of the company,” Al-Khalid said.
Regarding the external activities of the company Al-Khalid revealed “The Company resumes the process of its expansions according to stated plans. It managed to increase the total area of Saudi Land of Joy Entertainment Co. by signing some new B.O.T contracts with Royal Commission in Yanbu to invest land of about 13671 sqm in the seafront for 40 years. The company is studying other plans to improve and increase its buildings in Saudi Arabia, United Arab Emirates, and the possibility of entering new markets in the future.”
 

 “The Company was able to resume its expansion programs in Kuwait according to the stated plans. It inaugurates Casper’s Scare world in El Agheila of about 1331 sqm,” Al-Khalid added
 “Since Future Kids was enrolled in Kuwait stock market, five years ago, it has been eager to adopt ambitious strategies to enlarge its activities in the entertainment market especially after increasing its capital to 11.6 million through obtaining the exclusive operating rights of international brands. This why it becomes one of the largest and most prestigious Kuwaiti companies specialized in the field of safe family entertainment centers,” Khalid said.
“The company owns some brands, subsidiaries and agencies such as Future Kids for children toys and tools, Al Jazirah for entertainment projects (Aqua Park), Discovery Al-Saif Co for children games Casper’s Scare School Cartoon Network World, Saudi Land of Joy Entertainment Co and Emirates Land of Joy Entertainment Co. All these name and buildings will be expanded and developed to fit the increased demand for it,” Al-Khalid noted.

“The Company tries to achieve the shareholders’ interests through adopting new strategies and visions based on improving performance in family entertainment market locally and regionally. It tries to assert its leadership in the field of entertainment and master service delivered,” Al-Khalid stressed
Al-Khalid asserted also the importance of investment in human resource by training the company staff members according to modern methods of customer service, fire-fighting, life-saving as well as first aid in different incidents.  “In the last few years, the company has been developed and strengthened its presence in the entertainment market. It becomes one of the most important and biggest companies in the world of entertainment locally and regionally. It managed to increase its visitors, branches and services,” Al-Khalid said.

 “To cope up with corporate governance rules, The Company signed contract with Ernst & young consulting firm to help in applying the principals of corporate governance within the company to promote the role of transparency and its commitment to implement the instructions of Capital market authority,” Al-Khalid added.  “The Company will open new channels of financial sources to support future plans through discussing the studies of mobile entertainment which serves all members of society everywhere,” Al-Khalid revealed The annual general meeting of the company viewed the report of the Board of Directors and the auditor’s report about the financial year 2013. It ratified the balance sheet, profit and loss accounts, and members of the Board of Directors’ release. Also, it approved the distribution of 7 Fils per share. While the Extraordinary general meeting approved amendments of the main system of the company to fit the Companies Law Decree No. 25 of 2012.

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