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Arab Real Estate incurs KWD 3.4 mln losses in 9 months till 30/09/2011

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 today, Sunday, 13/11/2011, endorsed the interim financial statements for the fiscal periods that ended on 30/09/2011 as follows:

1) Current periods:

Item

3 months ended 30/09/2011

9 months ended 30/09/2011

Profit (Loss) (KWD)

(308.879)

(3,477,743)

EPS (LPS) (fils)

(0.61)

(6.88)

Total current assets

-

18,700,680

Total assets

-

164,819,716

Total current liabilities

-

28,819,716

Total liabilities

-

97,638,632

Total shareholders’ equity

-

67,321,298

Total expenses of dealings with related parties reached KWD 94,409, with no relevant revenue recorded.

2) Comparative periods:

Item

3 months ended 30/09/2010

9 months ended 30/09/2010

Profit (Loss) (KWD)

(1,233,597)

(4,905,111)

EPS (LPS) (fils)

(2.44)

(9.71)

Total current assets

-

1,986,972

Total assets

-

171,995,209

Total current liabilities

-

86,867,272

Total liabilities

-

106,869,784

Total shareholders’ equity

-

65,099,160

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