Kuwait Cement ’09 net profit jumps to US$44.5m

Kuwait Cement ’09 net profit jumps to US$44.5m
Published: 19 March 2010

Kuwait Cement Company said yesterday its net profit surged to KWD 12.81m (US$44.5m) in 2009 from KWD4.31m a year earlier.

The earnings per share (EPS) stood at 22.84 fils in 2009, versus 7.68 fils in 2008.

The company’s total assets rose to KWD 249.1m at end-December 2009 from KWD 239.4m a year earlier.

The board of directors has recommended to shareholders a 10% cash dividend for 2009, equal to 10 fils per share, in addition to a 5% bonus issue.