Oula Fuel Marketing achieves net profit of KD 4.06 million during 2011

10/04/2012 09:37 AST

Oula Fuel Marketing held their sixth general assembly which took place at its head offices where Chairman Abdulhussain Al-Sultan announced a net profit of 4,059,055 Kuwaiti dinars for the fiscal year ending on Dec. 31, 2011. This resulted in an earnings per share (EPS) of 12.41 Kuwaiti fils which is 41 percent higher than the EPS registered in 2010. Also in attendance was Managing Director Hamzah Bakhash in addition to a representative from the Ministry of Commerce and a large number of the company's shareholders.

Al-Sultan stated that the company's total assets amounted to KD 55.394 million recording an increase of 18 percent over last year while company revenue has increased by 11 percent during 2011 and enhanced efficiency of operations resulted in improving gross profit by 34 percent.

Al-Sultan went on to explain that while the company's focus is on financial performance, "Oula places equal importance and attention on health, safety and environment (HSE) issues, development of stations and career development of employees."

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