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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