Kuwait Flour Mills and Bakeries Company recorded net profits of KD 27.4 million (USD 97.4 million) for 2013, and KD 3 million will be distributed to the company's shareholders. The value of its annual sales hit around KD 317 million, and sales earnings amounted to KD 24.5 million after deducting the cost of sales and expenses worth KD 292 million, the company's Chairman and Managing Director Salah Al-Kulaib said in a statement. The net distributable profits after adding the non-operating expenses and retained earnings reached KD 119.2 million at the beginning of the year, he added. Kuwait Flour Mills and Bakeries Company is a premier establishment in food industry in the State of Kuwait. It is a primary source for most of food industries and food distributors.