Kuwait Portland Cement back to profit in 2009

Kuwait Portland Cement back to profit in 2009
Published: 02 March 2010

Cement trader Kuwait Portland Cement said in a bourse statement today it registered a net profit of KWD 12.17m (USD 42.1m/EUR 31.1m) for 2009, recovering from a net loss of KWD 8.75m in 2008.

The earnings per share (EPS) reached 147.32 fils in 2009, versus a loss per share of 105.94 fils in the previous year.

The company said total assets rose to KWD 62.4m at end-December 2009 from KWD 54.1 million a year earlier.

The management board has decided to recommend a 100% cash dividend for 2009, equal to 100 fils per share.