Boubyan Petrochemical realizes KD 24.7 million in profit

13/06/2012 08:36 AST

Boubyan Petrochemical Company (BPC) announced realizing profit of 24.7 million Kuwaiti dinars for the year ending April 30, 2012, which compares to a sum of KD 22.8 for the previous fiscal year. Share dividend reached 51.1 Kuwaiti fils, compared to last year's 47.2 fils.

In its statement on the Kuwait Stock Exchange (KSE) website, BPC said the board recommended cash dividend at 40 percent for the said year, for shareholders registered at the time of the General Assembly, which took place yesterday.

Shareholders equity came to KD 278.4 million compared to last year's 258.4 million. Assets meanwhile came to KD 428.3 whereas liabilities came to KD 148.5 million by the end of April.

Liabilities last year were KD 170 million. The company was founded in 1995, listed with KSE in 1997 with paid capital of KD 48.5 million. It is licensed to invest in industrial ventures in general, and specifically in the fields of chemicals and petrochemicals. The company's main investments are stakes in EQUATE, and the two fully owned off-shoots Boubyan Plastic Industries and National Waste Management Company.

KUNA