 |
|
|
|
|
| ........................................................................................................................................... |
| Al
Bareeq Holding Company K.S.C. (Closed) and Its Subsidiary
CONSOLIDATED
INCOME STATEMENT
Year ended 31 December 2007 |
| ........................................................................................................................................... |
|
|
2007
KD
|
2006
KD
|
|
|
|
Sales
|
415,076 |
371,283 |
Cost of sales
|
(35,860) |
(28,148) |
|
___________
|
___________
|
GROSS PROFIT
|
379,216 |
343,135 |
|
|
|
Interest income
|
2,251 |
6,835 |
Other income
|
138,040 |
75,113 |
Dividend income
|
72,850
|
25,000
|
Unrealised gain from
investments carried at fair
value through income
statement
|
73,540
|
209,500
|
Realised gain from investments
carried at fair
value through statement
of income
|
4,400
|
18,000
|
|
___________ |
___________ |
TOTAL INCOME
|
661,497
|
677,583
|
|
___________ |
___________ |
|
|
|
General and administration expenses
|
(513,264)
|
(420,941)
|
Other operating expenses
|
(89,737)
|
(86,666)
|
Impairment loss
|
-
|
(123,276)
|
|
___________ |
___________ |
TOTAL EXPENSES
|
(603,001)
|
(507,607)
|
|
___________ |
___________ |
PROFIT BEFORE CONTRIBUTION TO
KUWAIT
FOUNDATION FOR THE
ADVANCEMENT OF SCIENCES
|
58,496
|
169,976
|
|
___________
|
___________
|
| Zakat |
(4) |
- |
Contribution to
Kuwait
Foundation for the Advancement
of Science
|
(526)
|
(1,530)
|
|
|
|
PROFIT FOR THE YEAR
|
57,966
|
168,446
|
|
___________
|
___________
|
Basic earnings per share
|
3.86 Fils
|
11.23 fils
|
|
___________
|
___________
|
|
| |
| ........................................................................................................................................... |
Al
Bareeq Holding Company K.S.C. (Closed) and Its Subsidiary
CONSOLIDATED
BALANCE SHEET
At 31 December 2007 |
| ........................................................................................................................................... |
|
|
2007
KD
|
2006
KD
|
ASSETS
|
|
|
Non-current
assets
|
|
|
Plant and equipment
|
340,540
|
355,921 |
Intangibles
|
287,680
|
291,495
|
Available for sale investments
|
212,000
|
212,000
|
|
_____________ |
_____________ |
Total non-current assets
|
840,220
|
859,416
|
|
_____________ |
_____________ |
Current assets
|
|
|
| Investments carried at fair value through income statement |
1,354,240 |
1,289,200 |
Inventories
|
40,726 |
65,951 |
Accounts receivable and prepayments
|
187,164 |
74,747 |
Cash and cash equivalents
|
95,001 |
67,596
|
|
_____________ |
_____________ |
Total current assets |
1,677,131 |
1,497,494 |
|
_____________ |
_____________ |
Total assets
|
2,517,351 |
2,356,910 |
|
_____________ |
_____________ |
EQUITY AND LIABILITIES
|
|
|
Equity:
|
|
|
Share capital
|
1,500,000
|
1,500,000
|
Statutory reserve
|
65,333 |
59,483 |
General reserve
|
65,333 |
59,483
|
Cumulative
changes in fair value
|
80,000
|
80,000
|
Retained earnings
|
428,675
|
382,409
|
|
_____________ |
_____________ |
Total
equity
|
2,139,341
|
2,081,375
|
|
_____________ |
_____________ |
Non-current liabilities
|
|
|
Employees' end of service benefits
|
22,860
|
15,162 |
| Obligation under Tawroq arrangement |
41,592 |
- |
|
____________ |
_____________ |
| Total non-current liabilities |
64,452 |
15,162 |
| |
_____________ |
_____________ |
Current liabilities
|
|
|
Accounts payable and accruals
|
271,966 |
260,373 |
| Obligation under Tawarag arrangement |
41,592 |
- |
| |
_____________ |
_____________ |
| Total current liabilities |
313,558 |
260,373 |
|
_____________ |
_____________ |
Total liabilities
|
378,010 |
275,535 |
|
_____________ |
_____________ |
Total equity and liabilities
|
2,517,351 |
2,356,910 |
|
_____________ |
_____________ |
|
| |
 |
| ........................................................................................................................................... |
| Al
Bareeq Holding Company K.S.C. (Closed) and Its Subsidiary CONSOLIDATED
INCOME STATEMENT
Year ended 31 December 2006 |
| ........................................................................................................................................... |
|
|
2006
KD |
2005
KD |
|
|
|
|
|
Sales |
371,283 |
270,244 |
|
Cost of sales |
(28,148) |
(24,655) |
|
|
___________ |
___________ |
|
GROSS PROFIT |
343,135 |
245,589 |
|
|
|
|
|
Interest income |
6,835 |
16,045 |
|
Other income |
75,113 |
2,926 |
|
Dividend income |
25,000 |
20,000 |
Unrealised gain from
investments carried at fair
value through income statement |
209,500 |
527,700 |
|
Realised gain from investments
carried at fair
value through statement of income |
18,000 |
84,000 |
|
___________ |
___________ |
|
TOTAL INCOME |
677,583 |
896,260 |
|
|
___________ |
___________ |
|
|
|
|
|
General and administration expenses |
(420,941) |
(378,804) |
|
Other operating expenses |
(86,666) |
(53,440) |
|
Impairment loss |
- |
(123,276) |
|
|
___________ |
___________ |
|
TOTAL EXPENSES |
(507,607) |
(555,520) |
|
|
___________ |
___________ |
PROFIT BEFORE CONTRIBUTION TO KUWAIT
FOUNDATION FOR THE
ADVANCEMENT OF SCIENCES |
169,976 |
340,740 |
|
|
___________ |
___________ |
|
Contribution to Kuwait
Foundation for the Advancement
of Science |
(1,530) |
(3,067) |
|
|
|
|
|
PROFIT FOR THE YEAR |
168,446 |
337,673 |
|
|
___________ |
___________ |
|
Basic earnings per share |
11.23 fils |
22.51 fils |
|
|
___________ |
___________ |
| ........................................................................................................................................... |
Al
Bareeq Holding Company K.S.C. (Closed) and Its Subsidiary
CONSOLIDATED
BALANCE SHEET
At 31 December 2006 |
| ........................................................................................................................................... |
|
|
2006
KD |
2005
KD |
|
ASSETS |
|
|
|
Non-current
assets |
|
|
|
Plant and equipment |
355,921 |
300,578 |
|
Intangibles |
291,495 |
299,333 |
|
Available for sale investments |
212,000 |
135,000 |
|
Investments carried at fair value through income
statement |
1,289,200 |
1,025,700 |
|
|
_____________ |
_____________ |
|
|
2,148,616 |
1,760,611 |
|
|
|
|
|
Current assets |
|
|
|
Inventories |
65,951 |
68,294 |
|
Accounts receivable and prepayments |
74,747 |
43,468 |
|
Cash and cash equivalents |
67,596 |
355,007 |
|
|
_____________ |
_____________ |
|
|
208,294 |
466,769 |
|
|
_____________ |
_____________ |
|
Total assets |
2,356,910 |
2,227,380 |
|
|
_____________ |
_____________ |
|
EQUITY AND LIABILITIES |
|
|
|
Equity: |
|
|
|
Share capital |
1,500,000 |
1,500,000 |
|
Statutory reserve |
59,483 |
42,486 |
|
General reserve |
59,483 |
42,486 |
|
Cumulative
changes in fair value |
80,000 |
80,000 |
|
Retained earnings |
382,409 |
322,957 |
|
|
_____________ |
_____________ |
|
Total
equity |
2,081,375 |
1,987,929 |
|
|
_____________ |
_____________ |
|
Non-current liabilities |
|
|
|
Employees' end of service benefits |
15,162 |
7,954 |
|
|
|
|
|
Current liabilities |
|
|
|
Accounts payable and accruals |
260,373 |
231,497 |
|
|
_____________ |
_____________ |
|
Total liabilities |
275,535 |
239,451 |
|
|
_____________ |
_____________ |
|
Total equity and liabilities |
2,356,910 |
2,227,380 |
|
|
_____________ |
_____________ |
|
|
|
|
| |
|
