Kuwait – Mubasher: Kuwait Cement achieved a growth of 19% in profits during the third quarter of 2016 as compared to the same period a year ago.
Earnings increased to KWD 3 million ($9.9 million) in Q3-16 from KWD 2.55 million ($8.44 million) in Q3-15, according to a bourse statement issued Wednesday.
During the nine-month period, profits reached KWD 15.2 million, 7% lower from KWD 16.3 million in the same period of 2015.
The decline in profits of the nine months is attributed to a decrease in gross profits by KWD 1.45 million as well as a decline in investment profits worth about KWD 561,968.
On KSE level, Kuwait Cement stock fell 1.32% on Wednesday to 375 fils.
