Kuwait United Industries Q1 net soars

Published May 16th, 2001 - 02:00 GMT

Kuwait United Industries Co. net profit soared in the first quarter of 2001 to 8.366 million dinars ($27 million), compared with just 610,877 dinars in the same period last year. 


The Kuwait Stock Exchange (KSE) said in a statement to Reuters on Tuesday, May 15, that earnings per share for the period rose to 11.59 fils, compared with 0.77 fils in the first quarter of 2000. It did not give further details. There are 1,000 fils to the dinar ($3.25). 


United Industries holds interests in industrial and other related companies. It manufactures and trades in carpets, furniture, paints and other complementary industries.  


It invests surplus funds in managed portfolios and also provides technical and other consultancy services related to industrial investments. The company's shares were trading on Tuesday down 10 fils at 255 fils, compared with a year high on May 13 of 270 fils. ― (Reuters, Kuwait) 


© Reuters 2001

© 2001 Mena Report (www.menareport.com)

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