Mubasher: Gulf Cement Co has incurred losses in the first quarter of 2018 against a profit in the same period a year ago, according to a bourse statement on Monday.
The company, which is listed on both Boursa Kuwait and the Abu Dhabi Securities Exchange (ADX), suffered a loss of AED 2.9 million in Q1-18 versus profits worth AED 8.1 million in Q1-17.
Gulf Cement clarified that the losses incurred in Q1 resulted from lower profit margin of 4.5% when compared to 10.3% in Q1-17.
The company has also registered losses from investments at a value of AED 7.3 million in Q1-18 compared to revenues from investments totaling AED 5.5 million in Q1-17.
