Kuwaiti cement trader Kuwait Portland Cement posted a net profit of 5.85m Kuwaiti dinars (US$19.9m) for the first nine months of 2004, a decrease from 10.64m dinars (US$36.1m) in the same period of 2003. Earnings per share (EPS) totalled 82 fils (US$0.27) in the first nine months of 2004, against 150 fils (US$0.5) in the year-earlier period. The net profit for the period January to September 2004 included 882,344 dinars (US$3m/2.3m euro), resulting from the application of the International Accounting Standards (IAS) 39 and 40.
Kuwait Portland Cement, which trades in cement and construction materials, posted a net profit of 2.77m dinars (US$9.4m) for the first half of 2004, down from 6.54m dinars (US$22.2m) in the same period of 2003. The company was established in 1976 and was listed on the Kuwait Stock Exchange (KSE) in 1995.