Mubasher: Kuwait Portland Cement reported a 75% decrease in net profits during the third quarter (Q3) of the year.

Profits reached KWD 605,600 ($2 million) in Q3-19 compared with KWD 2.42 million ($7.98 million) for Q3-18, as shown by the company's financial statements.

Meanwhile, profits totalled KWD 6.18 million during the first nine months of 2019, declining by 21% compared with KWD 7.82 million in the same period last year, the company said in a bourse filing on Monday.

The company attributed the decrease in profits to lower net returns on investments.