Kuwait Portland Cement records 26% decline in profit

Kuwait Portland Cement has announced a 26.4 per cent YoY decrease in 2019 profit to KWD7.59m (US$24.88m), compared with KWD10.32m a year earlier. Operating revenue also declined 19.5 per cent to KWD85.23m from KWD105.94m in 2018.

In the 4Q19, the company saw net profit dip 43.6 per cent YoY to KWD1.41m from KWD2.5m in the year-ago period.