Gulf Cement sees half-year profits almost halve, UAE

Gulf Cement sees half-year profits almost halve, UAE
Published: 19 July 2010

Gulf Cement Company has seen its profits slashed by almost a half in a six-month comparison to 2009 and by more than three-quarters for Q2 against the same period last year, the company has revealed.
 
Net profits tumbled 47% from AED70.3m  to AED37.56m.
 
Pre-tax revenue for six months compared to January- to-June in 2009 declined from AED392.77m to AED302.4m, down 23%, with a fall of 13.2% when comparing the second quarter 2010 to the same period in 2009.