Kuwait – Mubasher: Kuwait Cement posted a decline of 6.1% in the second quarter of 2016 as compared to the same period in 2015.

Earnings shrank to KWD 6.96 million ($22.97 million) in Q2-16 from KWD 7.41 million ($24.46 million) in Q2-15

During the first half of this year, the company’s profits fell by 11.6% to KWD 12.16 million from KWD 13.75 million, according to a bourse statement.

The drop in earnings was due to a decrease in gross profits by KWD 1.42 million as well as a fall in net investment gains by KWD 1.2 million.

Kuwait Cement stock was last traded on 18 July when it closed at 390 fils.