Kuwaiti Labs profits jump 288% in the first quarter

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Kuwait – direct: Shown the financial data of the company Kuwaiti Company for Building Factories and Contracting The company’s profits in the first quarter of this year increased by 288% on an annual basis.

According to the company’s results for the Kuwait Stock Exchange, today, Sunday, profits for the period amounted to 3.74 million dinars (12.45 million dollars), compared to 961.87 thousand dinars ($ 3.20 million) in the first quarter of 2020.

The company said in a statement to the Stock Exchange that the profit increased during the comparison periods, due to the reimbursement of claims and fines provision of 3.9 million dinars.

The total operating income of the company in the first quarter of this year was about 8.83 million dinars, compared to 12.94 million dinars for the same period in 2020, a decrease of 32%.

she was Al-Muamel’s profits rose 21% in the past year; To reach 6.018 million dinars, compared to 2019’s profit of 4,976 million dinars.

و .قرت The company’s general assembly took place in late AprilRecommendation of the Board of Directors to distribute cash dividends for the year 2020 at the rate of 45% of the nominal value of the share, at 45 fils per share.

The general assembly also approved the Board of Directors’s recommendation to distribute bonus shares to the shareholders of the company for the year 2020 at a rate of 5% of the capital, by 5 shares for every 100 shares.

(Edited by Mohamed Farouk)

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