Kuwait’s Al-Sahel rebounds to profit by September-end

08 Nov 2010

(MENAFN) Kuwait-based Al-Sahel Development and Investment Company, issued a statement saying that the firm generated $18.9 million in profits during the first three quarters of 2010, compared to losses worth $3.1 million in the corresponding period of 2009, Kuna reported.

The statement revealed that the total shareholders’ equity amounted to $198.6 million by September-end in the current year, as opposed to $233.9 million in the same period a year earlier.

Al-Sahel was founded in 1975 and was listed in the Kuwait Stock Exchange (KSE) in 1989. The development and investment company currently has a paid capital of $223.2 million.

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