Gulf Glass Mfg Co. registered an increase in net profit to KWD 1.89M (US$ 6.7M) in 2008 (KWD 1.12M), the company said in a filing to the Kuwait Stock Exchange. Earnings per share (EPS) were KWD 0.049 in 2008 (KWD 0.029). The company's total assets rose to KWD 15.2M end-December 2008 (KWD 14.4M). The board of directors has recommended to shareholders a 20% cash dividend for 2008, equal to KWD 0.02 per share. Gulf Glass, established in 1981, is engaged in the manufacture, import, export & distribution of glass bottles & other household glassware. The company's plant, located in Mina Abdullah Ind Area, consists of 2 melting furnace & 5 production lines with an annual production capacity of 114,000 metric tons. Gulf Glass, in addition to selling its products on the domestic market, exports to the Gulf Cooperation Council (GCC) & other Middle East countries.
