NIC 2003 Financial Report

Chairman & Managing Director’s Speech

2003 is the second year for the company to work independently where it finalized its legal, administrative, technical and accountancy situation which is separated from Mother-Company (National Industries Group - Holding Company) and it is in the same time an extension to the Original Company (National Industries Company which is established in 1961), maintaining its scientific experience and distinguished reputation during its long march. The company intemperance is enhanced when its listed for dealing at Kuwait Stock Exchange on 13/10/2003 after Mother-Company sold 25% of its stocks to its shareholders.

2003 is considered an extension of 2002 in terms of company’s good performance, and for looking forward for promising market, if Allah wishes, during 2004, company started to set its strategic plan for 2004 based on increase and promoting shareholder’s equities, maintaining company’s prestige and reputation, achieving vertical and horizontal development according to market’s chances and requirements, to find out and develop leaderships, technical, marketing and administrative qualified staff.

Company had achieved excellent results as sales had reached KD 23,589,828 with an increase of 17% more than that of last year 2002 while commissioning profits reached an amount of KD 6,117,589 with an increase of 9% more than that of last year and shareholder equities reached KD 29,486,870 with an increase of 11%.

Company financial Indicators
Statement of Income
Balance sheet

Download NIC 2003 Annual Report (PDF)