Al-Iqbal Investment achieves net profit of JD4.5m in H1

The half years sales of the company increased to JD35,220,048 in comparison with JD26,436,642 for the same period of 2007.

The shareholders' equity in the Company for the first half of the current year amounted to JD33,653,427 in comparison with JD39,348,475 on 31/12/2007, decreasing to JD5,695,048 in spite of the dividend distribution amounting to JD10m.

The liabilities and shareholders' equity amounted to JD72,213,803 in comparison with JD74,105,605 on 31/12/2007.

The Chairman of the Board, Mr. Tawfiq Fakhori said:

"The special numbers that the company had achieved was a result of the accurate planning of the company Management and workers efforts, while appointing the best experts in different fields, in addition to applying active programs to train our employees.

Through these programs, we are keen to give the employees and workers incentives to continue their giving and enhance the production levels.

These results were realized through the company investment in producing and distributing Al Fakher flavored tobacco whereas the half year results show that the profit of the of Al Fakher Company for Tobacco Trading and Agencies was JD4.100.390, noting that the company own Al Fakher Factory for Tobacco Trade in Ajman which produces Al Fakher flavored tobacco productions and exports these production for more than 45 countries.

Also the cigarette production yields a profit amounting to JD496,740 in comparison with a decrease in the same period from the previous year amounting to JD1,100,00.

These results appeared from the Company's commitment of producing high quality productions, and suitable prices without increasing the prices of products, in spite of the increase in the production cost, and the Company's commitment of paying taxes and customs and other fees.

Mr. Fakhori added:

" The most important achievement for Al-Iqbal Investment CO., during the first half of 2008, is the restructuring of the Company and changing the name form International Tobacco and Cigarette Company to (Al-Iqbal Investment Company), to become the legal successor of International Tobacco & Cigarette Company, in all works and activities, in local and regional markets, and all financial, administrative, legal and judicial rights."