Mubasher: Hilal Cement posted a drop of 83.9% in profits to about KWD 80,460 ($262,900) in the fourth quarter of 2016 from nearly KWD 501,350 ($1.64 million) in the same period a year ago.
During fiscal year 2016, earnings totaled nearly KWD 112,300 which was 63.62% lower from about KWD 308,600 in FY15, according to a bourse filing issued on Tuesday.
The decline in profits resulted from lower sales and higher administrative expenses.
