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NIC posts KWD 4.4 mln profit for FY ended 31/12/2010

NINV NINV 0.00% 245.00 0.00

Kuwait Stock Exchange (KSE) announces that National Investments Co. (NIC) has obtained on 24/02/2011 the approval of the Central Bank of Kuwait (CBK) on its financial statements for the FY that ended on 31/12/2010 as follows:

1) Financial results:


Item

FY ended 31/12/2010

FY ended 31/12/2009

Profit (Loss) (KWD)

4,426,415

(26,076,453)

EPS (LPS) (fils)

5

(31)

Total current assets

35,744,026

32,889,348

Total assets

267,516,880

227,485,814

Total current liabilities

54,760,545

44,636,525

Total liabilities

54,760,545

44,636,525

Total shareholders’ equity

212,756,335

182,849,288

Total expenses of dealings with related parties reached KWD 1,230,486, with no relevant revenue recorded.

The board will convene later to endorse these financial reports and mull dividend payout.

Accordingly, the stock will resume trading 10 minutes after this announcement.

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