Kuwait Cement Co posts US$30.6m net profit

Kuwait Cement Co posts US$30.6m net profit
Published: 27 July 2010

Kuwait Cement Company said in a bourse filing yesterday it booked a net profit of KWD 8.81m (US$30.6m) for the six months ended June 30, 2010, down from KWD12.31m a year earlier.

The cement producer reported earnings per share (EPS) of 14.96 fils for the first half of 2010, compared to 20.9 fils a year ago.

For the second quarter of 2010, the company’s net profit plummeted to KWD 3.82m, from KWD21.25m in the same period last year.

The total assets rose to KWD 239.5m at end-June 2010 from KWD 252.4 million a year ago.