MKIT‘s Profits dip by 89% in FY2011

Misr Kuwait Investment (MKIT) has incurred an 89% decline in the net profits that reached L.E61.613 thousand during the FY of 2011, compared to what was achieved during the FY of 2010 that reached L.E559.652.

The MKIT’s financial statement for the first 9 months of 2011 has revealed that the company has incurred a net loss of L.E43 thousand, noting that it had posted net profits of L.E417 thousand for the same comparable period of 2010.

Misr Kuwait Investment & Trading Co is one of the Nilex’s listed companies. It works in real estate investment, holding and managing industrial & agricultural projects as well as touristic villages and in operation and maintenance of buildings. MKIT is a manufacturer, trader and distributor of meat. The Company processes beef, poultry, veal, lamb and processed meat.

MKIT’s issued capital values at L.E20 million and the par value for each share reaches L.E1.