Kuwait Portland Cement net profit surges

Kuwait Portland Cement said its net profit surged to KWD3.2m (US$11.3m) in the first quarter of 2013 from KWD2.3m a year ago, the trader said in a bourse statement.

Earnings per share (EPS) rose to 34.69 fils from 24.8 fils.

Total assets stood at KWD 80.2m at end the end of March 2013, up from KWD75.3m a year earlier.

Kuwait Portland Cement Co. is engaged in import of bulk cement and supply in the local markets. It has a 60,000t silo from which it distributes imported cement.