GulfBase Live Support
31/01/2013 10:26 AST
Kuwait's Aref Energy Holding Co said yesterday full-year losses widened to 9.96mn Kuwaiti dinars ($35.42mn) in 2012 compared with a 5.11mn loss dinars in the previous year.
The company's fourth-quarter loss, however, narrowed sharply to about 497,000 dinars from 3.73mn dinars a year earlier, according to Zawya Dow Jones calculations and Zawya.com data.
A substantial loss in the first quarter of 2012 accounted for a major chunk of the full-year loss; Aref improved its results in the subsequent quarters of the year compared with 2011, as per Zawya data.
The company, a unit of Kuwait Finance House, said in a statement posted on the Kuwait bourse website that full-year losses per share widened to 13.3 fils from 6.8 fils in 2011.
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Aref Energy Holding Company (Aref Co) earned 10.7 million Kuwaiti dinars in net profits for the fiscal year (FY) that elapsed on Dec. 31, compared to KD 7.9 million in losses in 2009.
The co
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Kuwaiti group Aref Energy Holding Co said it sold 95 percent of its stake in a gas joint venture in Texas, making about $60 million profit.
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Ticker | Price | Volume |
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Ticker | Price | Change |
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SAUDIARAMCO | 24.30 | 0.16 (0.66 |
ABAR | 158.00 | 8.00 (5.33 |
ADNOCGAS | 3.41 | 0.02 (0.58 |
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