|
(All amounts are in Kuwaiti
Dinars) |
|||||
|
Description |
2009 |
2008 |
2007 |
2006 |
2005 |
|
Assets |
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
Property, Plant
& Equipment |
65,770,817 |
12,807,223 |
8,429,771 |
25,863,871 |
25,850,691 |
|
Investment
properties |
1,039,971 |
1,126,313 |
1,212,657 |
1,299,001 |
1,385,343 |
|
Investment in
associates |
14,816,073 |
15,062,406 |
10,731,827 |
9,564,955 |
7,045,191 |
|
Available for sale
investment |
84,277,642 |
107,616,277 |
197,555,022 |
135,370,385 |
108,011,642 |
|
|
165,904,503 |
136,612,219 |
217,929,277 |
172,098,212 |
142,292,867 |
|
Current assets |
|
|
|
|
|
|
Inventories |
24,237,155 |
30,954,165 |
13,668,964 |
14,206,920 |
23,135,147 |
|
Properties held for
trading |
- |
389,004 |
393,870 |
344,107 |
574,058 |
|
Debtors and other
debit balances |
8,877,826 |
12,185,438 |
9,900,266 |
9,177,500 |
8,963,169 |
|
Investment at fair
value through profit and loss |
12,022,492 |
17,726,890 |
106,089,575 |
82,140,131 |
73,500,738 |
|
Cash and cash
equivalents |
38,016,725 |
41,515,964 |
17,142,805 |
8,358,400 |
6,575,130 |
|
|
83,154,198 |
102,771,461 |
147,195,480 |
114,227,058 |
112,748,242 |
|
Total assets |
249,058,701 |
239,383,680 |
365,124,757 |
286,325,270 |
255,041,109 |
|
Equity and
liabilities |
|
|
|
|
|
|
Equity |
|
|
|
|
|
|
Share capital |
57,837,237 |
55,083,083 |
47,898,333 |
43,543,940 |
39,585,399 |
|
Share premium |
5,154,935 |
5,154,935 |
5,154,935 |
5,154,935 |
5,154,935 |
|
Treasury shares |
(12,978,814) |
(12,978,814) |
(10,289,246) |
(6,749,329) |
(5,339,406) |
|
Gain on sale of
treasury shares |
445,592 |
445,592 |
105,616 |
80,353 |
80,353 |
|
Statutory reserve |
33,060,865 |
31,700,720 |
31,251,240 |
25,580,580 |
21,421,377 |
|
Voluntary reserve |
28,098,376 |
26,738,231 |
26,288,751 |
20,618,091 |
16,458,888 |
|
General reserve |
18,930,128 |
18,930,128 |
18,930,128 |
18,930,128 |
19,255,646 |
|
Change in fair value
reserve |
(6,417,843) |
(2,874,711) |
137,739,425 |
83,354,101 |
84,031,847 |
|
Group's share in
associates reserves |
(617,567) |
(490,094) |
- |
- |
- |
|
Retained earnings |
13,625,659 |
11,630,256 |
45,631,380 |
31,949,923 |
23,050,521 |
|
|
137,138,568 |
133,339,326 |
302,710,562 |
222,462,722 |
203,699,560 |
|
Non-current
liabilities |
|
|
|
|
|
|
Borrowings |
54,937,790 |
38,797,790 |
11,200,000 |
13,518,750 |
12,604,750 |
|
Notes payable |
- |
- |
- |
26,125 |
50,940 |
|
End of service
indemnity |
1,543,592 |
1,498,381 |
1,290,948 |
1,264,103 |
1,178,818 |
|
|
56,481,382 |
40,296,171 |
12,490,948 |
14,808,978 |
13,834,508 |
|
Current
liabilities |
|
|
|
|
|
|
Borrowings |
26,233,493 |
58,355,700 |
40,749,586 |
41,179,695 |
28,032,846 |
|
Creditors and other
credit balances |
29,205,258 |
7,392,483 |
9,173,661 |
7,873,875 |
9,474,195 |
|
|
55,438,751 |
65,748,183 |
49,923,247 |
49,053,570 |
37,507,041 |
|
Total equity and
liabilities |
249,058,701 |
239,383,680 |
365,124,757 |
286,325,270 |
255,041,109 |
|
(All amounts are in Kuwaiti Dinars) |
|||||
|
Description
|
2009 |
2008 |
2007 |
2006 |
2005 |
|
Sales |
61,792,064 |
86,399,054 |
82,432,210 |
72,298,197 |
63,484,243 |
|
Cost of sales |
(41,074,274) |
(63,571,573) |
(54,003,578) |
(46,149,659) |
(46,044,628) |
|
Gross profit |
20,717,790 |
22,827,481 |
28,428,632 |
26,148,538 |
17,439,615 |
|
Other operating
income |
122,926 |
373,847 |
2,366,240 |
2,833,156 |
279,386 |
|
Slow moving items
provision |
(6,226,893) |
- |
- |
- |
(51,341) |
|
Selling, General
& administrative expenses |
(3,509,516) |
(2,991,313) |
(2,635,390) |
(2,479,800) |
(2,435,905) |
|
Foreign currencies |
(499,368) |
(984,216) |
- |
- |
- |
|
Doubtful debts |
(2,057,038) |
- |
59,781 |
257,199 |
(527,886) |
|
Impairment of
property, plant & equipment |
24,116,733 |
- |
(13,264,101) |
- |
(6,000,000) |
|
Operating
profit |
32,664,634 |
19,225,799 |
14,955,162 |
26,759,093 |
8,703,869 |
|
Finance charges |
(2,894,430) |
(3,849,643) |
(3,179,255) |
(2,820,624) |
(1,746,749) |
|
Interest income |
420,021 |
986,269 |
202,052 |
75,320 |
14,469 |
|
Net (loss)/gain from
investment at fair value through profit and loss |
(479,009) |
(12,496,536) |
30,045,220 |
9,967,302 |
29,442,475 |
|
Net gain/(loss)from
available for sale investment |
2,917,346 |
9,400,862 |
12,484,830 |
4,623,930 |
1,499,996 |
|
Impairment of
available for sale investment |
(18,554,864) |
(9,642,698) |
- |
- |
- |
|
Impairment of
property held for trading |
(389,004) |
- |
- |
- |
- |
|
Net income from
investment properties |
35,616 |
37,502 |
45,717 |
58,000 |
49,310 |
|
Group's share of
associates' results |
(118,860) |
833,250 |
2,152,876 |
2,929,010 |
1,201,964 |
|
Net profit before
deductions |
13,601,450 |
4,494,805 |
56,706,602 |
41,592,031 |
39,165,334 |
|
Zakat expense |
(203,903) |
- |
(27,188) |
- |
- |
|
Contribution to |
(128,776) |
(42,865) |
(568,819) |
(343,594) |
(356,755) |
|
National Labor
Support Tax (NLST) |
(301,529) |
- |
(1,146,226) |
(840,108) |
(909,517) |
|
Board of Directors'
remuneration |
(154,000) |
(140,000) |
(161,000) |
(140,000) |
(140,000) |
|
Net profit for the
year |
12,813,242 |
4,311,940 |
54,803,369 |
40,268,329 |
37,759,062 |
|
Earnings per share (Fils) |
22.84 |
8.06 |
117.51 |
94.26 |
96.35 |
|
|
|
|
|
|
|
|
|
|||||
|
Cash dividends |
10% |
10% |
65% |
60% |
50% |
|
Bonus shares |
5% |
5% |
15% |
10% |
10% |
|
|
|||||
|
Bader
A. Al-Wazzan |
|||||
|
Licence No.
62 A |
|||||
|
Bader
& Co. PreicewaterhouseCoopers |
|||||
|
|
|||||
|
Qais M.
Al-Nisf |
|||||
|
Licence No.
38 A |
|||||
|
|
|||||
|
Member
firm of Moore Stephens International |
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