The net profit of Kuwaiti cement trader Kuwait Portland Cement fell to 2.77 mln Kuwaiti dinars (US$9.4m) in the first half of 2004 from 6.54 mln dinars ($22.2m) in the same period of 2003. Kuwait Portland Cement reported a net profit of 1.11 mln dinars ($3.8m) for the second quarter of 2004, down from 2.97 mln dinars ($10.1m) in the corresponding period of 2003. EPS fell to 16 fils ($0.054/0.045 euro) from 42 fils ($0.143/0.118 euro).
Kuwait Portland Cement, which trades in cement and construction materials, posted a net profit of 15.15 mln dinars ($51.4m) for 2003, up from 8.12 mln dinars ($27.5m) in 2002. The company was established in 1976 and was listed on the Kuwait Stock Exchange (KSE) in 1995.