Gulf Glass: 2004 Net Profit Up

Gulf Glass Manufacturing posted increased net profit of KWD 1M in 2004, up from KWD 736.3 in 2003. Earnings per share increased to KWD 0.0031 in 2004 (0.0023). The company's board of directors met on 21 February and proposed a cash dividend of KWD 0.0022/share for 2004, in addition to distribution of bonus shares at a ratio of six free shares for every 100 shares held. Both proposals are subject to shareholder approval.