Kuwait Cement nine-month net profit down to US$52.2m

Kuwait Cement nine-month net profit down to US$52.2m
Published: 04 November 2009

Kuwait Cement Company said yesterday its net profit plummeted to KWD14.94m (USD52.2m) for the nine months ended September 30, 2009, versus KWD20.16m a year earlier.

The cement producer reported earnings per share (EPS) of 26.62 fils, compared to 35.83.

For the third quarter of 2009, the company booked a net profit of KWD2.62m, recovering from a net loss of KWD16.98m a year earlier.

The total assets declined to KWD250.8m at end-September 2009 from KWD298.4m a year earlier.