Sector News

Mubasher: The equity ownership movement registered in Boursa Kuwait showed that Al Ahli Bank of Kuwait (ABK) has increased its stake in Heavy Engineering Industries and Shipbuilding (HEISCO) by 5.51% during Monday’s session, 2 April. ABK has …

Mubasher: National Cleaning achieved KWD 387,000 ($1.3 million) in profits during the fourth quarter of 2017 against KWD 209,000 ($699,200) in the same period a year ago. During fiscal year 2017, the company generated a profit of KWD 1.31 million …

Mubasher: KGL Logistics reported a drop of 79.4% year-on-year in profits for the fourth quarter of 2017. Profits declined to KWD 70,000 ($234,230) in Q4-17, down from KWD 340,000 ($1.14 million) in the same quarter a year earlier, according to a …

Mubasher: Gulf Cable and Electrical Industries posted a decline of 25.7% in profits to KWD 1.13 million ($3.78 million) during the fourth quarter of 2017 compared to KWD 1.52 million ($5.09 million) in the same period a year ago. During fiscal …

Mubasher: Combined Group Contracting was awarded a tender offered by Kuwait’s public works ministry for a total of KWD 6 million ($20 million). This tender has a duration of 915 days that will cover the maintenance of public roads in Mubarak Al …

By: Mohamad Farouk Mubasher: The stock of Agility Public Warehousing came in the second place in terms of liquidity. By 11:18 am Kuwait time, Agility’s stock, which is also listed on the Dubai Financial Market (DFM), posted KWD 1.31 million in …

Mubasher: Combined Group Contracting reported a decline of 8.7% in profits during the fourth quarter of fiscal year 2017 compared to the same period in the previous year. Earnings decreased to KWD 2.93 million ($9.78 million) in Q4-17 from KWD …

Mubasher: Kuwait Company for Process Plant Construction and Contracting (KCPC) reported a growth of 31.6% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings increased to KWD 858,000 ($2.86 million) …

Mubasher: The ordinary general meeting (OGM) of Acico Industries approved the board’s recommendation of paying 10% of the capital as cash dividends or 10 fils per share for the fiscal year 2017. The approved cash dividends will total KWD 3.01 …

Mubasher: Kuwait and Gulf Link Transport (KGL) announced the resignation of four board members due to personal reasons. KGL has not named the four members who resigned, according to a bourse statement on Thursday. The Kuwait-based company is …

Mubasher: Shuaiba Industrial achieved a surge of 101.4% in profits during the fourth quarter of 2017 compared to the same period in the previous year. Earnings soared to KWD 419,000 ($1.4 million) in Q4-17 from KWD 208,000 ($695,100) in Q4-16, …

Mubasher: Gulf Cable and Electrical Industries has received a purchasing order from HSS Joint Venture to supply cables for a total value of KWD 2.79 million. The company expects an operating profit accounting for 2% of the contract’s value; …

Mubasher: Kuwait Cement achieved an increase of 15.4% in profits during the fourth quarter of 2017 compared to the same period in the same period in the previous year. Earnings increased to KWD 4.94 million ($16.5 million) in Q4-17 from KWD 4.28 …

Mubasher: Kuwait Portland Cement has signed a contract with Kuwait Supply Co on Tuesday for a total value of KWD 56.5 million ($188.7 million). The value of the contract can increase or decrease within a range of 10%, according to a bourse …

Mubasher: Heavy Engineering Industries and Shipbuilding (HEISCO) reported a decline of 11.8% in profits during the fourth quarter of 2017 compared to the same period in the previous year. Earnings increased to KWD 1.57 million ($5.24 million) in …

Mubasher: Kuwait Portland Cement announced that it has not signed any contracts with Kuwait Supply Company until Sunday, 4 March, unlike what was published in Al Qabas Newspaper, according to a filing to Boursa Kuwait on Sunday. Earlier on Sunday, …

Mubasher: United Projects Company for Aviation Services (UPAC) has established United UPAC Real Estate with a capital standing at KWD 3.25 million, as reported by Al Qabas Newspaper. This new company was established by five contributors, headed by …

Mubasher: Mubarrad Holding Co has incurred a loss of KWD 542,000 ($1.81 million) in the fourth quarter of 2017 against a profit of nearly KWD 354,000 ($1.18 million) in the corresponding period in 2016. During the fiscal year 2017, the …

Mubasher: The board members of National Shooting Co have approved the resolution of appointing Mohammed Soud Suleiman Al Abdullah as the new CEO of the company, according to a bourse statement on Thursday. It is worth noting that Sabah Salman …

Mubasher: Kuwait and Gulf Link Transport (KGL) announced that its 97%-owned subsidiary, KGL Transportation Co, was awarded a contract with the US army. The contract is related to the transportation workers in the GCC, Iraq, and Jordan, according …

Mubasher: United Projects Company for Aviation Services (UPAC) has registered several investments in fiscal year 2017, namely related to developing the Reem Mall project in Abu Dhabi, the CEO and deputy chairman of UPAC, Nadia Akil, told Al Rai …

Mubasher: United Projects Company for Aviation Services (UPAC) achieved an increase of 22.4% in profits during the fourth quarter of 2017 compared to the same period in the prior year. Earnings grew to KWD 2.79 million ($9.32 million) in Q4-17 …

By: Mohamad Farouk Mubasher: The income statements of 60 companies listed on Boursa Kuwait reported a decrease of 4.9% in profits during the fourth quarter of 2017 compared to the same quarter in 2016. Earnings of the total 60 firms declined to …