Cement News tagged under: Kuwait Cement

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Building on diversification

15 February 2021, Published under Cement News

Kuwait has seen its economy heavily impacted by the crisis in oil prices, a lack of diversity and the COVID-19 pandemic. A lack of investment in infrastructure has further seen demand fall for the cement sector, which relies on several importers as well as domestic cement producers. Building ACICO’s new grinding unit, Ball Mill 4, which is scheduled for commissioning in the 1Q21 Kuwait’s economy remains largely dependent on the oil sector, which accounted for more than 90 per ce...

Kuwait Cement FY17 profit falls 12%

07 March 2018, Published under Cement News

Kuwait Cement saw a YoY increase of 15.4 per cent in profits to KWD4.94m (US$16.5m) in 4Q17 from KWD4.28m in 4Q16, according to a stock exchange statement. However, in FY17, Kuwait Cement reported a drop of 11.8 per cent in profits to KWD17.19m, compared to KWD19.49m in FY16. The fall is attributed to higher financing costs (KWD480,450) as well as a decline in consolidated profit (KWD3.55m).

Kuwait Cement sees decline in quarterly profit

10 August 2017, Published under Cement News

Kuwait Cement reported a decline of 37.1 per cent in profits to KWD4.38m (US$14.48m) in the second quarter this year compared to KWD6.96m (US$23.01m) in the same quarter a year ago. In the first half of 2017, the company posted a fall of 17.9 per cent in profits to KWD9.98m compared to KWD12.16m in 1H16, according to a bourse filing issued on Wednesday. The decrease in profits is attributed to a higher finance cost to the consolidated income statements by KWD154,430, as well as a drop...

Kuwait Cement 3Q profits up 19%

10 November 2016, Published under Cement News

Kuwait Cement posted a 19 per cent YoY growth in profits for the 3Q16. Earnings increased to KWD3m (US$9.9m) in 3Q16 compared to KWD2.55m in 3Q15. However, during the nine month period profits fell seven per cent to KWD15.2m from KWD16.3m in the same period last year. This decline in 9M profit was attributed to a decreased in gross profits by KWD1.45m as well as a decline in investment profits worth approximately KWD561,968.