Kuwaiti Hilal Cement profits fall

Kuwaiti Hilal Cement profits fall
Published: 14 February 2005

The net profit of Kuwaiti cement and building materials trader Hilal Cement Company fell to 1.76n Kuwaiti dinars (US$6.0m) in 2004 from 2.25m dinars (US$7.7m) in 2003.  The company’s earnings per share (EPS) declined to 53.5 fils ($0.183) in 2004 from 68.3 fils ($0.234) in the previous year.  Hilal Cement board of directors met on February 9, 2005 and proposed a cash dividend of 30 fils ($0.103) per share for 2004. The proposal is subject to approval by the company’s shareholders.  Hilal Cement posted a net profit of 1.438 mln dinars ($4.92m) for the first nine months of 2004, compared to 1.441 mln dinars ($4.94m) in the same period of 2003.