Mubasher: Kuwait Portland Cement on Monday posted a year-on-year profit decrease for the third quarter of 2018.

Net profits amounted to KWD 2.4 million ($7.9 million) in Q3-18, compared to KWD 3.12 million ($10.3 million) in Q3-17, according to the company’s statement to Boursa Kuwait.

For the first nine months of 2018, profits went down to KWD 7.82 million, versus KWD 8.19 million in the same period of the prior year.

Operating profits declined 5% year-on-year to KWD 5.62 million.

It is worth noting that the company logged a profit of KWD 5.4 million during the first half of 2018.