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UIC Shafafiyah (Transparency) Investor’s Forum 2011

UIC’s 2011 Shafafiyah (Transparency) presentation was released on March 9th, 2011. It has a review of last year and financial guidance for this year to shareholders, partners, financial analysts and institutional investors.

Click here to download an English copy of UIC 2011 Investor presentation.

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      United Industries Company Posts KD 8.7 Million Net Profit In First Nine Months Of 2014

 Kuwait City, November 9th, 2014: United Industries Company (UIC), a member of the Kuwait Projects Company (KIPCO) Group, posted KD 8,734,244 in net profit for the first nine months of 2014.

Earnings per share stood at 19.57 fils compared to 14.69 fils for same period last year.

Total assets stood at KD 187.3 million as at 30 September, an increase of 10% compared to the KD 170.2 million reported on December 31, 2013. This increase is mainly due to the acquisition of Advanced Technology Company in April 2014.

Share of income from QPIC increased by 107%, or KD 5.28 million to reach KD 10.21 million compared to 4.93 million during the last year. This is due to a recent stake increase of 10.8% by UIC and increased profit in QPIC mainly due to reclassification of one of its investment to subsidiary and revaluation at market price.

 Long term investment increased by 15% or KD 24 million to reach KD 186 million during the current period compared to KD 162 million during the last year. This is due to acquisition of Advanced Technology Company and divestment of SADAFCO.

 Commenting on the results, UIC’s Chairman, Sheikh Khalifa Abdullah Al Jaber Al Sabah said that the Board of Directors approved the financial report for the first nine months of 2014. He noted that the achieved results reflected good profits and that the management was keen to achieve the aspirations of the shareholders.

 He added:

“I would like to express my heartfelt appreciation and gratitude to our valued shareholders for their trust and support. We hope to continue to prosper and succeed with our future plans.”

-       END -

 Notes to editors:

 About UIC:

United Industries Company (UIC) is a member of KIPCO Group and considered as the Group’s investment arm in the industrial sector. UIC is a closed shareholding company, established in 1979. UIC was listed on Kuwait Stock Exchange in 1997. The Company invests its resources in the downstream industries sector in Kuwait and GCC countries. Authorized and paid-up capital of UIC currently stands at KD 49,546,875 (US Dollar 171,546,352). The core investments of the Company are concentrated in:

 -          Qurain Petrochemical Industries Company

-          Advanced Technology Company

 

For more information:

 Please visit: www.uickw.com

 Or contact:

 Mr. Nabil F. Fayed

Administrative Affairs Manager

Phone: +965 22943236 Ext. 2041

Email: Nabil@uickw.com

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