Kuwait – Cement: Kuwait Portland Cement registered a fall of 15.7% in profits of the second quarter this year as compared to the same period in 2015.

The company’s earnings decreased to KWD 2.21 million ($7.29 million) in Q2-16 from KWD 2.62 million ($8.65 million) in Q2-15.

Portland Cement reported an increase of 9.3% in profits of the first half to KWD 5.75 million versus KWD 5.26 million in H1-15, according to a statement issued on Monday.

The growth in profits was due to lower prices of raw materials, the statement clarified.