Kuwait Cement Co Q1 net profits rise

Kuwait Cement Co Q1 net profits rise
Published: 11 May 2005

The net profit of Kuwaiti cement maker Kuwait Cement Company rose to 9.21 mln Kuwaiti dinars ($31.6m) in the first quarter of 2005 from 5.06 mln dinars ($17.3m) in the same period of 2004, the Kuwait Stock Exchange (KSE) reported on May 10, 2005.  The company’s net profit for the first quarter of 2005 included a profit of 5.75 mln dinars ($19.7m) resulting from the application of the International Accounting Standards (IAS) 39 and 40, which state how proceeds from securities and property should be treated in financial reports.