UPAC achieves KD 6.75 net profits in 2015

KUWAIT, March 13 (KUNA) — United Projects Company for Aviation Services (UPAC) has announced achieving KD 6.75 million earnings, 86 fils per per share, in the last fiscal year, which ended in 2015, compared to profits of KD 5.65 million (72 fils per stock) in 2014.
UPAC said in a statement published on the website of Kuwait Stock Exchange on Sunday that UPAC Board of Directors recommended distribution of 86 percent of cash dividends to shareholders for the fiscal year that ended in December 2015.
Total Shareholders’ equity reached KD 27.8 million in end of 2015, compared to KD 26.7 million in end of 2014. Assets reached around KD 40.1 million compared to liabilities at KD 9.79 million in 2015.
UPAC (United Projects for Aviation Services Company) is a full-service commercial real estate development and facilities management company that has been operating in Kuwait since 2000.
It partners with land developers, investors, government entities and business project entrepreneurs to turn nascent business plans into successful commercial enterprises. UPAC generates annual revenue of more than KD 11 million and is traded on the Kuwait Stock Exchange. It was officially listed in KSE in 2006 with a capital value at KD 8.25 million. (USD=KD 0.300).(end) fh.afh.lb