Kuwait Portland Cement posts 5.2% rise in annual profit

Kuwait Portland Cement said Tuesday its net profit stood at KWD8.26m (US$27.9m) for 2014, up 5.2 per cent from the KWD7.85m recorded in 2013.

Earnings per share increased to 90.89 fils from 86.37 fils.

The company said total assets rose to KWD88.9m at end-2014 from KWD74m a year earlier.

The board of directors proposed a 70 per cent cash dividend for 2014, equal to 70 fils per share, in addition to a five per cent bonus issue, translating into five shares for each 100 shares held.