United Industries Company (UIC), a member of the Kuwait Projects Company (KIPCO) Group, posted on Sunday KD 8.73 million in net profit for the first nine months of 2014, with a stock share price of 19.5 Fils per share.
In a press release, UIC’s Chairman Sheikh Khalifa Abdullah Al-Jaber Al-Sabah said that the total asset of the company since the first nine months of 2014 reached KD 187.3 million, a 10-percent increase when compared to total asset of December 31, 2013, which reached KD 170.2 million.
Sheikh Khalifa added that the reason behind these numbers was the takeover of capital share of Advanced Technology Company (ATC) during the month of April of this year.
Sheikh Khalifa noted also that the company’s share increased due to profits from Qurain Petrochemical Industries Company (QPIC) which announced profits increase of 10.7 percent.
Kuwait-based UIC was established in 1979 as a closed shareholding company. It was listed on Kuwait Stock Exchange (KSE) in 1997.
Source : KUNA Kuwait News agency
