Gulf Glass Manufacturing: USD 6.2 million net profit 2005

Kuwaiti glass products maker Gulf Glass Manufacturing Company reported a rise in net profit to KWD 1.8 million (USD 6.2 million/EUR 5.1 million) in 2005 from KWD 1.0 million (USD 3.4 million/EUR 2.8 m…

Kuwaiti glass products maker Gulf Glass Manufacturing Company reported a rise in net profit to KWD 1.8 million (USD 6.2 million/EUR 5.1 million) in 2005 from KWD 1.0 million (USD 3.4 million/EUR 2.8 million) in 2004. Earnings per share (EPS) were KWD 0.052 (USD 0.18/EUR 0.15) in 2005, up from KWD 0.029 (USD 0.1/0.08 EUR) in 2004. The management board has recommended a cash dividend of KWD 0.042 (USD 0.14/EUR 0.12) per share for 2005, equal to 42% of the share par value. The dividend is subject to shareholders“ approval. Gulf Glass Manufacturing posted a net profit of KWD 1.1 million (USD 3.8 million/EUR 3.2 million) for the first nine months of 2005, up from KWD 740,400 (USD 2.5 million/EUR 2.1 million) for the previous year period, it was reported on 11 November 2005.