Kuwait Portland Cement 9M14 net profit up 32% YoY

Kuwait Portland Cement’s net profit increased by 32 per cent in the first nine months of the year to KWD8.64m (US$29.7m) from KWD6.57m a year earlier, the cement trader said in a bourse statement yesterday.

Earnings per share (EPS) increased to 95.1 fils from 72.3 fils.

Without disclosing exact figures, the company attributed the increase to higher sales, coupled with a rise in revenue from investments.

Kuwait Portland Cement said total assets rose to KWD85.1m at end-September 2014 from KWD73.9m a year earlier.

Vietnam earned US$697m from exporting 16.12Mt of cement and clinker in the nine-month period, rising 18 per cent YoY in value and 15 per cent in volume terms, respectively.