Kuwait Portland Cement net profit surges

Cement trader Kuwait Portland Cement said in a bourse statement yesterday its net profit surged to KWD4.74m (US$16.8m) in the first half of 2012 from KWD1.11m a year ago.

The earnings per share (EPS) rose to 52.2 fils from 12.2 fils.

For the second quarter of 2012, the company booked a net profit of KWD2.48m, an increase from KWD1.78m in the same period last year.

Total assets stood at KWD69.8m at end-June 2012, down from KWD73.3m a year earlier.