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FINANCIAL NEWS
Kuwait’s UIC posts USD9m profit in H1
26 Jul 2012
(MENAFN) Kuwait’s United Industries Company (UIC) reported USD8.89 million net profits during the first half of the year. Up from USD3.33 million a year earlier, Arab Times reported.
UIC, member of Kuwait Projects Company Group (KIPCO), however, incurred a loss of USD475,34 during the second quarter ended June 30, down from USD1 million a year earlier.
Chairman Sheikh Sabah Mohamed Abdul Aziz Al Sabah said Share of income from associates reached USD17.6 million as the Share of income from Saudia Dairy & Foodstuff Company (SADAFCO) increased by 24 percent to USD7.7 million from USD2.7 million a year earlier.
He added that the Share of income from Qurain Petrochemical Industries Co (QPIC) during the period reached USD9.86 million.
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