Sharjah Cement sees sharp fall in 1Q turnover

Sharjah Cement sees sharp fall in 1Q turnover
Published: 30 April 2010

Sharjah Cement & Industrial Development reported sales turnover of AED173m (US$47m) for the first quarter of 2010, a sharp fall from AED297.5m for the same period last year.

The reduction in sales is partially attributed to decrease in demand of cement and, to a much larger extent, to the reduction in selling price of cement.

Production costs also increased due to rising energy costs and production stoppages on account of power shortages.

The company posted a profit of AED23.89m for the period, compared to AED51.37m for 1Q last year.

Source: Trade Arabia