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Arab Real Estate sustains KWD 670 thousand losses in 3 months till 31/03/2011

ARABREC ARABREC -1.93% 71.10 -1.40

Kuwait Stock Exchange (KSE) announces that the board of Arab Real Estate Co., in a meeting held yesterday, Sunday 15/05/2011, endorsed the interim financial statements for the fiscal periods that ended on 31/3/2011 as follows:
1) Current periods:

Item

3 months ended 31/03/2011

3 months ended 31/03/2010

Profit (Loss) (KWD)

(670.007)

(3.044.142)

EPS (LPS) (fils)

(1.33)

(6.03)

Total current assets

17.710.946

2.370.590

Total assets

170.655.428

181.469.000

Total current liabilities

24.135.142

96.714.115

Total liabilities

99.434.343

115.626.501

Total shareholders’ equity

71.208.569

65.812.624


Expenses of dealings with related parties totaled KWD (52.187), with no related revenue recorded.

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