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KUWAIT: Deputy Chairman of the Board and Chief Government Officer of Shuaiba Industrial Co Bader Al-Qattan mentioned the corporate’s annual monetary outcomes mirrored the power of its monetary standing, its high quality investments and effectivity of its operation, including the corporate is dedicated to going forward with attaining its objectives by studied and regular steps that intention at maximizing shareholder fairness.
Al-Qattan, who spoke following the final meeting that was held on Wednesday, mentioned 2021 was an extension of the proper method the corporate is taking and efforts of the board of administrators and the chief administration. He mentioned shareholders accepted the distribution of money dividends of 12 fils per share.
He mentioned the corporate registered a distinguished efficiency by the achievement of greatest complete gross sales of KD 12,290,351 for the earlier yr, a development share of 4.49 p.c from the earlier yr. He mentioned the entire operational revenue for the present interval is KD 2,685,225, in comparison with KD 2,379,139, which is 12.87 p.c from final yr within the presence of fierce competitors inside and out of doors Kuwait, and the gradual rise in paper costs on the worldwide degree.
Al-Qattan mentioned web complete income for the fiscal yr ending Dec 31, 2021 reached KD 1,341,388 in comparison with the identical interval within the earlier yr of KD 1,024,917, which is a 30.88 p.c development from 2020. He mentioned regardless of the regression within the operational surroundings and the final financial weak spot that prevailed final yr regionally and internationally within the type of political and social turbulence within the area and the worsening worldwide monetary disaster, and commenting on the monetary outcomes for 2021, Industrial Shuaiba exerted efforts to take care of its achievements regardless of the repercussions of the coronavirus pandemic, its results and precautionary measures governments worldwide imposed.
The e-book worth reached 187 fils per share in 2021 in comparison with 184 fils for the earlier yr, whereas complete property reached KD 23,309,101 in comparison with the earlier yr of KD 22,404,351, a 4.04 p.c development from the earlier yr. Shareholders’ fairness reached KD 18,527,523 in comparison with the identical interval of final yr of KD 18,228,218, a development of 1.64 p.c from the earlier yr.
Al-Qattan mentioned the corporate produced and manufactured 23,760 tons this yr, as exports nonetheless signify round 63 p.c of complete firm gross sales throughout 2021. This can be a matter the corporate is eager to strengthen by sustaining its share in varied worldwide markets regardless of fierce competitors.
He mentioned the administration labored throughout 2021 on advertising and marketing its merchandise by small bag manufacturing traces (primarily for the meals sector) in Kuwait and GCC, including to the initiative to enter worldwide markets to compete. He mentioned the entry in these markets requires us to enhance manufacturing high quality and preserve the competitors degree to have the ability to achieve passable shares in such markets.
The final meeting accepted the board of director’s advice to distribute revenue dividends to shareholders whose names are within the firm’s register on the finish of Could 24, 2022, which will probably be distributed to those that are entitled to them on Could 31, 2022.
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