Kuwait Cement Company said yesterday its net profit plummeted to KWD14.94m (USD52.2m) for the nine months ended September 30, 2009, versus KWD20.16m a year earlier.

The cement producer reported earnings per share (EPS) of 26.62 fils, compared to 35.83.

For the third quarter of 2009, the company booked a net profit of KWD2.62m, recovering from a net loss of KWD16.98m a year earlier.

The total assets declined to KWD250.8m at end-September 2009 from KWD298.4m a year earlier.
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