NICBM 2007 Financial Report

Chairman and Managing Director's speech

I am pleased to welcome you on my behalf and on behalf of the Board of Directors and the executive management of the National Industries Company for Building Materials. I would like to present the annual report of the company’s performance in the year ended 31 December 2007. I plead to Almighty God to grant us continuity of our success and achievement from year to year. Those achievements will undoubtedly strengthen the position of your company and supporting it to continue as one of the biggest industrial companies owned by the Private Sector, not only in the State of Kuwait, but also on the level of the region in general.

We are pleased with the outcomes made by your company for the year 2007 which have been accomplished through a continuous work and a clear strategy. We are looking for more efforts to achieve more successes and ambiti

Dear Shareholders,

The results of the year 2007 reached net profits of 12.5 million Kuwaiti dinars against 9.8 million Kuwaiti dinars for the period itself for 2006 with an increase of 28%. The operational profits increased with a percentage of 23% to reach about 10 million Kuwaiti Dinars for 2007. The increase in the operation profits is due to the increase in the construction business and the increase in the exported products to the neighbour markets, in addition to expansions and upgrading the production facilities, introducing new products and further developing current products. The profit per share for the year 2007 increased to reach 39 fils per share against 33 fils per share for the year 2006 with an increase of 18%.

The company continued the planned national and international growth in Kuwait and other the GCC region. The result of this growth will appear positively in the next year, on the other hand, the company increased the local activities to meet the local and neighbour markets requirements, where products have been developed and improved and new products designs have been introduced.

In the light of these results, the Board of Directors recommended, in its meeting held on Sunday, 3rd FEB.. 2008, to the General Assembly the distribution of profits at a rate of 25% in cash in addition to 5% of bonus shares.

On this occasion, we are delighted to express our thanks and gratitude for the support provided by National Industries Group Holding. Further our thanks goes for all those who contributed their efforts to achieve this good results, and are looking forward for more efforts to achieve goals and ambitions in the coming years.

In conclusion, I implore Almighty God as He blessed to us to raise the performance of 2007, to lead and guide us to achieve even better results in the coming years too.

Company financial Indicators
Statement of Income
Balance sheet

Download NIC 2007 Annual Report (PDF)