The Kuwait National Cinema Company (KNCC) posted a 1.092 million Kuwaiti dinar ($3.57 million) net profit in the first quarter of the current financial year, which ended March 31, 2002. This represents a 10 percent drop from the KD1.212 million net profit earned during the corresponding perios the previous year.
Established in 1954, KNCC enjoys a monopolistic license to undertake all leisure market activities relating to the film industry, recreation and culture. The license is set to expire in 2004. The company operates a network of 17 cinema theaters and over 20 video stores throughout Kuwait. KNCC is a shareholding company whose seven million KD share capital is distributed among 70 million shares. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
