Kuwaiti Gulf Glass Manufacturing: higher net profit Jan-Sept 2003

Kuwaiti glass products maker Gulf Glass Manufacturing Company posted a net profit of KWD 572,200 (USD 1.9 million/EUR 1.6 million) for January-September 2003, up from KWD 403,200 (USD 1.4 million/EUR …

Kuwaiti glass products maker Gulf Glass Manufacturing Company posted a net profit of KWD 572,200 (USD 1.9 million/EUR 1.6 million) for January-September 2003, up from KWD 403,200 (USD 1.4 million/EUR 1.2 million) for the same period of 2002. Earnings per share (EPS) stood at KWD 0.022 (USD 0.07/EUR 0.06) for the nine months ended 30 September 2003, against KWD 0.016 (USD 0.054/EUR 0.046) for the corresponding period in 2002. Gulf Glass Manufacturing reported a net profit of KWD 213,900 (USD 727,000/EUR 616,600) for the 3Q of 2003, compared to 163,700 KWD (USD 556,400/EUR 471,900) for the year-ago period. Gulf Glass Manufacturing was established in 1981 and listed on the Kuwait Stock Exchange (KSE) in 1998. The company has a paid-up capital of KWD 2.78 million (USD 9.4 million/EUR 8.0 million), divided into 27.8 million shares at a par value of KWD 0.1 (USD 0.34/EUR 0.29).