UAE Fujairah Cement ’09 net profit more than halves

UAE Fujairah Cement ’09 net profit more than halves
Published: 19 February 2010

UAE cement producer Fujairah Cement Industries Co said its net profit for 2009 slumped to AED 80.8m (US$ 22m) from AED 195.6m for 2008 as sales tumbled.

Operating profit fell to AED 78.4m from AED187.8m on sales of AED455.1m, down from AED744.8m in 2008.

Earnings per share fell to AED 0.23 from AED 0.55.

Total liabilities at end-December stood at AED 688.5m, increasing from AED 657.3m at end-2008.