Cement trader Kuwait Portland Cement said in a bourse statement its net profit plummeted to KWD510,500 (US$1.9m) for the nine months to September 2011, from KWD16.9m a year earlier.

The company did not disclose the reasons for the sharp decline.

Earnings per share (EPS) dropped to 5.6 fils from 185.9 fils.

The total assets stood at KWD68.5m at end-September 2011, down from KWD 80.4m a year earlier.
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