National Industries Posts $348.3m Profit

KUWAIT, 5 August 2007 — Kuwait’s National Industries Group, the country’s biggest construction materials firm by market value, more than doubled second-quarter net profit to 98.21 million dinars ($348.3 million). The company’s profit in the six months to June 30 was 158 million dinars, compared with 74.6 million dinars in the year-earlier period, it said in a statement, without giving quarterly data. Reuters calculated the quarter, which was up 113.4 percent on the year earlier, based on previous financial statements. National Industries made 46.02 million dinars in the second quarter of last year and 59.79 million dinars in the first quarter of this year.