Kuwait flour co. earns KD 37.8 mln

Kuwait Flour Mills and Bakeries Company's Chairman and Managing Director Salah Al-Kulaib
Kuwait Flour Mills and Bakeries Company’s Chairman and Managing Director Salah Al-Kulaib

KUWAIT, March 31 (KUNA) — Kuwait Flour Mills and Bakeries Company announced net profits of KD 37.8 million for 2015, compared to KD 31.4 million in 2014 with a rise of 19 percent.
The company’s sales reached KD 545.7 million last year, compared to KD 441.9 million in the previous year, with a rise of three percent, said the company’s Chairman and Managing Director Salah Al-Kulaib in a press release on Thursday. He added that the cost of production was KD 420.5 million in 2015 compared to KD 413,2 million in 2014 with a rise of two percent.
Meanwhile, Al-Kulaib noted that the company’s assets were recorded at KD 57.8 million compared to KD 55.9 million with a three percent rise for the same time period. The shareholders’ equity rose from KD 274.7 million in 2014 to KD 308.4 million in 2015 with a rise of 12 percent, he also added. (USD=KD 0.301). (end) mka.ht.tb.ag

Kuwait Flour Mills general assembly
Kuwait Flour Mills general assembly