Kuwait Cement posts USD 48m net profit in 2010

Kuwait Cement posts USD 48m net profit in 2010
Published: 11 March 2011

Kuwait Cement Company said yesterday its net profit rose to KWD13.36m (USD 48m) in 2010 from KWD 12.81m a year earlier.

Earnings per share (EPS) stood at 22.68 fils in 2010, versus 21.75 fils in 2009.

The company’s total assets rose to KWD 258.3m at end-December 2010 from KWD 249.1m a year earlier.

The board of directors has recommended to shareholders a 10% cash dividend for 2010, equal to 10 fils per share, in addition to a 5% bonus issue.