The net profit of Kuwaiti cement maker Kuwait Cement Company rose to 9.21 mln Kuwaiti dinars ($31.6m) in the first quarter of 2005 from 5.06 mln dinars ($17.3m) in the same period of 2004, the Kuwait Stock Exchange (KSE) reported on May 10, 2005.  The company’s net profit for the first quarter of 2005 included a profit of 5.75 mln dinars ($19.7m) resulting from the application of the International Accounting Standards (IAS) 39 and 40, which state how proceeds from securities and property should be treated in financial reports. 
Published under Cement News