Kuwait – Mubasher: Kuwait’s Refrigeration Industries’ CEO and vice chairperson of the board, Saleh Al Mukhlif, said the company is studying building a plant in Saudi Arabia after the conclusion of the current contract by the end of 2018, according to Al Qabs newspaper.
Al Mukhlif said that last year’s operating income amounted to KWD 33.9 million, while net profits were KWD 3.9 million against KWD 3.7 million in profits in 2015, the newspaper reported citing the top executive as saying.
The Kuwaiti company’s general meeting on Monday agreed to distribute a 25% cash dividend for 2016, at 25 fils per share, and to elect a new board of directors.
Refrigeration Industries was established in 1973 and was listed in the bourse in 1984, but totally withdrew from the market on 10 February 2017.
The company’s capital amounts to KWD 10.04 million ($32.9 million), with Eastern Holding being the biggest shareholder with a 15% stake.
