Hilal Cement boosts net profit, Kuwait

Hilal Cement of Kuwait reported a surge in net profit to KWD1.22m (US$4.4m) for 2011 from KWD714,937 a year earlier.

Earnings per share for the cement producer were 17 fils compared with 10 fils the year before. Total assets stood at KWD22.4m at end-2011, slightly up from the KWD21.8m in 2010. The board has recommended a 15 per cent cash dividend for 2011, equal to 15 fils per share.