Hilal Cement Q1 profits drop 29%

Mubasher: Hilal Cement achieved a decline of 29.2% in profits during the first quarter of 2018 compared to the same period in the previous year.

Earnings shrank to about KWD 89,320 ($296,700) in Q1-18 from nearly KWD 126,080 ($418,800) in Q1-17, according to a bourse statement on Monday.

The decline in Q1 profits is attributed to an increase in a provision on debts.