Article: Global values ACICO Industries Company stock at KD 0.484 and recommends "HOLD" on the stock.(Financial report)

Summary: Global Investment House -- Kuwait- ACICO's net income fell by 70.4% in 2008 to reach KD6.5mn from 2007 levels of KD22.1mn. The drop in earnings was due to the fall in the financial and real estate markets, which caused ACICO's non-operating income to drop significantly. The change in fair value of investment properties, which fell from KD18.7mn in 2007 to less than one million Kuwaiti Dinars in 2008, was the major non-operating account that caused such a decline in the net income.

Global Investment House -- Kuwait- ACICO's net income fell by 70.4% in 2008 to reach KD6.5mn from 2007 levels of KD22.1mn. The drop in earnings was due to the fall in the ...

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