VOL. XL

No. 40

6-October-1997

KUWAIT

KOTC's Operating Profit Rises By 66% In 1996-97

The operating profit of the Kuwait Oil Tankers Company (KOTC) - the marinetransportation subsidiary of the state-owned Kuwait Petroleum Corporation (KPC) -increased in fiscal 1996-97, after depreciation, to KD12, 327,398 ($40.5mn - at thecurrent rate of exchange of $1=KD0.3043), a rise of 65.7% over KD7,437,882 ($24.2mn) inthe previous year, according to the company's Annual Report which has just beenreleased....