Kuwait Cement profit drops

Kuwait Cement profit drops
Published: 09 November 2010

Kuwait Cement Company said in a bourse filing on Sunday it had booked a net profit of KWD11.29m (US$40.3m) for the nine months ended September 2010, down from KWD14.94m a year earlier.

The cement producer reported earnings per share (EPS) of 19.16 fils, a decrease from 25.35 fils.

For the third quarter of 2010, the company’s net profit stood at KWD2.48m, compared with KWD2.62m in the same period last year.

The total assets rose to KWD260m at end-September 2010 from KWD250.8m a year ago.