The Board of Directors at Gulf Cement has met on January 19, 2008 in which the preliminary financial statements results for the year ended December 31, 2007 were approved.



The preliminary financial results revealed a net profit for the company of QR 32.3 million for the year ended December 31, 2007 in comparison to QR 19.8 million from May 2006(being the establishment date) until December 31, 2006.  Therefore, the Board of Directors has recommended the below to the Company’s General Assembly for approval:



(1)    Shifting profits to retained earnings in order to expand the company’s activities to include the addition for Cement Manufacturing Company, Cement Products (Sand) Manufacturing Company and a company for Development and Investment as well as another company for trading services.

A recommendation to the company’s AGM to convert into a holding company to include the companies mentioned above.