Gulf Glass: boost in net profit in H1 “09

Gulf Glass Manufacturing Co. said on 14 July 2009 that its net profit jumped to KWD 1.99 million (USD 6.9 million/EUR 5 million) for the first six months of 2009 from KWD 561,996 in 2008, with earning…

Gulf Glass Manufacturing Co. said on 14 July 2009 that its net profit jumped to KWD 1.99 million (USD 6.9 million/EUR 5 million) for the first six months of 2009 from KWD 561,996 in 2008, with earnings per share (EPS) at 51.79 fils compared to 14.64 fils. Total company assets increased to KWD 15.09 million at end-June 2009 compared to KWD 14.78 million during the same period of 2008. The company posted a net profit of KWD 1.11 million for the second quarter of 2009, up from KWD 222,264 in the same period of 2008. Kuwaiti glass products maker Gulf Glass, established in 1981, manufactures, imports, exports and distributes glass bottles and other household glassware. (Note: There are 1,000 fils to the Kuwaiti dinar; KWD 1.0 = USD 3.479/EUR 2.497)