{"id":874,"date":"2016-03-31T12:22:45","date_gmt":"2016-03-31T12:22:45","guid":{"rendered":"http:\/\/mushrif.wpengine.com\/mushrif-trading-and-contracting-announces-fy2015-results\/?lang=ar"},"modified":"2016-03-31T12:22:45","modified_gmt":"2016-03-31T12:22:45","slug":"mushrif-trading-and-contracting-announces-fy2015-results","status":"publish","type":"post","link":"http:\/\/www.mushrif.com\/?p=874&lang=ar","title":{"rendered":"Mushrif Trading and Contracting Announces FY2015 results"},"content":{"rendered":"<p><span style=\"font-weight: 400;\"><strong>Kuwait, March 31, 2016: Mushrif Trading and Contracting, a leading civil construction company in Kuwait, today announced its financial results for the year 2015. The company reported revenues of KD50.2 million, up 41.5% from 2014, and a net profit of KD1.0 million for the year.<\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mushrif Chief Executive Officer, Chris Preece, said: &#8220;We are pleased to announce that under new management we have commenced a turnaround into a structured, more dynamic company that is well-positioned to take advantage of the opportunities presented to us in the infrastructure sector, public construction sector and the oil &amp; gas construction sector. Our Kuwait business, which grew by 45% last year and generated 90.5% of our total top line results, will continue to be our focus and a generator of growth.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, our established presence, our 48-year experience in country, and our Grade 1 classification by the largest government customers in Kuwait, puts us in a strong position to play a major role in this growing infrastructure market. As we start the year with a backlog of KD250 million (USD825 million), we are closely following the tendering process of a previously announced pipeline of infrastructure projects worth more than USD230 billion (KD69.5 billion) in power, water, oil &amp; gas and infrastructure sectors to 2020.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400;\">FY2015 Financial Highlights:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Operating Revenue: KD50.2 million, up 41.5% from 2014<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Gross Profit: KD4.1 million, up 62.4%<\/span><\/li>\n<li><span style=\"font-weight: 400;\">EBITDA: KD1.1 million<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Net Profit to shareholders: KD1.0 million compared to a net loss of KD2.99 million in 2014<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Earnings Per Share (EPS) of 3.35 fils<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Balance Sheet Highlights:<\/span><\/p>\n<ul>\n<li><span style=\"font-weight: 400;\">Total Assets of KD105.8 million; increased by KD14.9 million from December 2014<\/span><\/li>\n<li><span style=\"font-weight: 400;\">Shareholders\u2019 Equity of KD40.82 million; increased by KD1.93 million from December 2014<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In 2015, the company signed contracts worth over KD165 million including an KD82.8 million contract from the Ministry of Public Works for the construction of a 40-kilometer road link to Mina Abdulla City and Wafra; a lowest bidder contract for the construction of a treated sewage effluent (TSE) network and reservoir for a total KD74.9 million; and a KD8.9 million contract from the Kuwait Oil Company (KOC) to construct the flowlines and source well in the Minagish oil field. In January 2016, Mushrif signed a KD13.9 million contract with the Ministry of Public Works for roadworks at the Al Bidda Roundabout.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mushrif is classified as Grade 1 for Roads, Sewage and Building Works with the Central Tenders Committee (CTC), Kuwait Oil Company (KOC) and Kuwait National Petroleum Company (KNPC) in Kuwait and has a specialized classification for work in the UAE with various government authorities, which allows it to undertake a wide variety of civil construction projects.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Mushrif owns and operates its own fleet which includes over 500 pieces of construction equipment along with an extensive labor force<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8211; ENDS &#8211;<\/span><\/p>\n<p><b>About Mushrif Trading and Contracting Company K.S.C.P.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Founded in 1968, Mushrif Trading and Contracting Company K.S.C.P. is a leading, KSE-listed is, civil construction company in the Gulf with exceptional design &amp; build capabilities in heavy civil works, major pipeline projects, road works, waste water treatment plants, deep foundation works, buildings and specialized construction services. Mushrif&#8217;s track record of quality, safety and reliability has made it a contractor of choice for major developers, government ministries and private clients throughout the region.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Reporters may contact:<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Fatima El-Saadani | Bensirri Public Relations | fatima@bensirri.com | +965 999 81334<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kuwait, March 31, 2016: Mushrif Trading and Contracting, a leading civil construction company in Kuwait, today announced its financial results for the year 2015. The &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-874","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"http:\/\/www.mushrif.com\/index.php?rest_route=\/wp\/v2\/posts\/874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.mushrif.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.mushrif.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.mushrif.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.mushrif.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=874"}],"version-history":[{"count":0,"href":"http:\/\/www.mushrif.com\/index.php?rest_route=\/wp\/v2\/posts\/874\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.mushrif.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.mushrif.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=874"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.mushrif.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}