Kuwait: Hilal Cement books full-year net loss

Kuwaiti cement producer Hilal Cement booked a net loss of KWD374,000 (US$1.3m) in 2014, versus a net profit of KWD518,500 a year earlier, the company said in a bourse statement.

The loss per share stood at 5 fils, compared to earnings per share of 7 fils.

For the final quarter of 2014, Hilal Cement registered a net loss of KWD92,000, versus a net profit of KWD241,600 in 2013.

The company attributed the lower performance to higher sales costs and administrative expenses, coupled with a decrease in other income.