Kuwait Cement Co. reported a 76 per cent rise in second-quarter net profit on Wednesday.
Net profit was KWD24.8m (US$87.94m) after KWD14.1m in the year-ago period, the firm said in a statement on the bourse website, but did not explain the profit rise.
Earnings per share rose to 53.21 fils from 30.06 fils. There are 1,000 fils to the dinar.
Kuwait Cement’s half-year profit, which rose 114 per cent to KWD40.4m, include unrealised profit of KWD18.9m, reflecting the value of investments, the statement added.