RAK Cement’s Q1 net falls on higher energy costs

RAK Cement’s Q1 net falls on higher energy costs
Published: 12 April 2007

Ras Al Khaimah Cement Co said on Wednesday first-quarter profit dropped 23.1 percent because of higher energy costs.  
 
Net income in the three months to March 31 was AED27.6m (US$7.52m), compared with AED35.9m in the year-earlier period.  
 
"Restrictions on the natural gas supply resulted in consumption of more expensive liquid fuels," the company said in a statement on the Abu Dhabi bourse Web site, without giving further details.  
 
Sales revenue climbed 12.5 per cent to AED90.2m. Earnings per share fell to 57 fils.