Kuwait – Mubasher: Kuwait Portland Cement Company posted on Wednesday a net profit of KWD 545,880 ($1.8 million) for the third quarter of fiscal 2016, 1,866.4% up from KWD 27,760 ($91,400) for Q3-15.
Net profit for the first nine months of 2016 grew by 18.9% to KWD 6.3 million from KWD 5.3 million for the same period last year.
The company attributed the fall to lower raw materials prices, according to a bourse filing.
Portland Cement earlier reported a net profit of KWD 5.75 million for the first half of 2016, versus KWD 5.26 million for H1-15.
