UAE’s Cement Producers Combined Net Profit Up 102%

UAE’s Cement Producers Combined Net Profit Up 102%
Published: 08 November 2005

The combined net profit of the eight cement and building materials companies listed on the Dubai Financial Market (DFM) soared 102 per cent YoY to AED1.31bn (US$356.7m) in the first nine months of 2005. 
 
The surging profits of the UAE cement makers are a result of the booming construction sector in the country and the increased demand for cement. 
 
The companies’ total assets stood at AED9.38bn (US$2.554bn) at the end of September 2005, up from AED6.49bn (US$1.767bn) at the end of December 2004. 
 
Combined sales grew to AED3.22bn (US$876.7m) in January to September 2005, from AED2.35bn (US$639.8m) a year earlier.