UAE Gulf Cement 1H08 net profit down

UAE Gulf Cement 1H08 net profit down
Published: 31 July 2008

UAE cement maker Gulf Cement registered a decline in its net profit to AED200.1m (US$54.5m) in the first half of 2008 from AED253.9m (US$69.1m) a year ago, it was reported on July 30.
 
The lower bottom line figures were mainly attributed to a sharp decrease in investment income to AED53.7m (US$14.6m) in the first six months of 2008 from AED140.6m  (US$38.3m) in the year ago period.
 
In the second quarter of 2008, the company reported a net profit of AED89.5m (US$24.4m), down from AED110.6m (US$30.1m) in the same period last year.