Sanad Holding earns $7m in net profits

KUWAIT: Sanad Holding Company declared yesterday it earned KD 2.19 million ($7.16 million) in net profits in the past nine months compared to KD 172,4,000 ($563,7,000) in the 2016 corresponding period. The company disclosed on Boursa Kuwait website that the earnings per share amounted to 18.29 fils against 1.4 fils same period in the past year. It attributed the profits to selling an affiliate company, profits’ distribution and proceeds from selling available enterprises. The company was established in 1998. It was enlisted in the bourse in 2007, with a capital of KD 12 million ($39.24 million).

Earlier, Alargan International RealEstate Company said it posted KD 5.07 million ($16.5 million) worth of profits in the past nine months, in contrast to KD 1.1 million ($3.5 million) in the 2016 corresponding period. Earnings per share stood at 19.90 fils against 4.54 fils, rising by 338.33 percent. Alargan company was established in 2002, It was enlisted at the bourse in 2007, with a capital amounting to KD 26.5 million ($86.6 million). It deals in property trades, manages properties, provides studies and consultations. Meanwhile, Egypt-Kuwait Holding Company reaped KD 21.33 million ($69.7 million) worth of net earnings in the past nine months, against KD 12.48 million ($40.80 million) same period in 2016 — rising by 71 percent. The company said in a statement posted on Boursa Kuwait website yesterday that the earnings per share stood at 21.4 fils compared to 12.80 fils, climbing by 67 percent.

The company was established in 1997. It was enlisted at the bourse in 2001, with a capital amounting to $500 million (KD 153 million). Its operations outside Egypt include participation in establishing companies, contributing to projects and financial portfolios. — KUNA