Mubasher: Kuwait Cement reported a decline of 13.2% in profits to KWD 3.8 million ($12.57 million) during the second quarter of 2018 compared to KWD 4.38 million ($14.48 million) in the same period last year.

During the first half of 2018, earnings shrank by 32.2% to KWD 6.77 million compared to KWD 9.98 million in the same half a year ago, according to a bourse statement on Wednesday.

Kuwait Cement noted that the decline in H1 profits is attributed to lower income from investments in addition to a drop in other revenues.