[Kuwait] Gulf Glass - Profits Up

Kuwaiti glassmaker Gulf Glass, established in 1981, manufactures, imports, exports & distributes glass bottles & other household glassware. Gulf Glass Manufacturing Co. announced July that its net profit jumped to KWD 1.99M (USD 6.9M) for the first 6m of 2009 from KWD 561,996 in 2008, with earnings per share (EPS) at 51.79 fils compared to 14.64 fils. Total company assets increased to KWD 15.09M at end-June 2009 compared to KWD 14.78M during the same period of 2008. The company posted a net profit of KWD 1.11M for Q2 of 2009, up from KWD 222,264 in the same period of 2008.