UAE: Gulf Cement net profit down 11.3%

Gulf Cement, which is listed on the Abu Dhabi Securities Exchange, said last week it booked a net profit of KWD4.7m (US$15.9m), down 11.3 per cent from KWD5.3m a year earlier.

For the fourth quarter of 2014, the UAE-based cement producer slipped into a net loss of KWD1m, versus a net profit of KWD1.8m in the corresponding period of 2013.