Kuwait Cement slips into US$30.8m loss in 1Q09

Kuwait Cement slips into US$30.8m loss in 1Q09
Published: 14 May 2009

Kuwait Cement Company slipped into a net loss of KWD 8.94m (US$30.8m) in the first quarter of 2009, versus a net profit of KWD15.56m a year earlier, the company said yesterday in a filing to the Kuwait Stock Exchange (KSE).

The cement producer reported a loss per share (LPS) of 15.93 fils for the first three months of 2009, compared to earnings per share of 27.65 fils for the same period last year.

The total assets declined to KWD 207.3m at end-March 2009 from KWD396.5m a year earlier.