The total revenue of Kimbas Group in the first half of 2006 reached 5.7 billion pounds (8.4 billion euros), an increase of 8% over the same period in 2005. However, due to the high utility price of goods or services, which seriously affected the marginal profit, the company was forced to withdraw from the Middle East market ahead of schedule, so the pre-tax profit decreased by 9.4%.
1. Make steady progress
The group company has developed steadily.
In the first half of 2006, our company maintained a high level of contract fulfillment rate and gained a lot of new business. Although the United Nations is investigating the contract award, Kimbas continues to acquire new business, especially in the United States. Operating income in the United States increased by 65,438+03% to 2.28 billion pounds.
2. Buy back shares
In April, 2006, the Group completed the sale of 6.5438+800,000 pounds of SSP.
The group intends to use the above-mentioned sales procedures to buy back shares worth 500 million pounds to reduce the pension fund deficit of 275 million pounds. The Group also confirmed the acquisition of the remaining 565,438+0% equity of Levy Restaurant, an American sports and leisure business, with a value of 65,438+43 million.
Kimbas Group revealed that it is not prepared to take legal action against the allegation that its subsidiary SSP was improperly awarded the United Nations procurement contract.