– Kuwait’s Heavy Engineering Industries and Shipbuilding Company (HEISCO) announced net profits of KD 5.6 million (around USD 16.9 million) in 2022, compared to KD 6.3 million (about USD 19 million) in 2021, down by 11.7 percent.

In a statement posted on Boursa Kuwait’s website Thursday, the company said that earnings per share in 2022 amounted to 31.2 fils, as opposed to 35.3 fils in 2021, a decline of 11.7 percent.

HEISCO’s board of directors recommended distributing cash dividends to shareholders of 20 percent of the nominal value of the share, at 20 fils for last year, with a total of KD 3.6 million (nearly USD 11 million), it explained.

HEISCO was established in 1974 and listed in Kuwait Stock Exchange in 1984, having a capital of KD 22 million (approximately USD 72.6 million), and operating in shipbuilding, maintenance of industrial facilities and ports.

Source: Kuwait News Agency