Sharjah Cement H105 net profit up 134% YoY, UAE

03 August 2005

UAE cement producer Sharjah Cement and Industrial Development Company posted a net profit of AED151.3m (US$41.2m) for the first half of 2005, registering a 134% YoY increase.

The company’s sales rose to AED272m (US$74.1m) from AED163m (US$44.4m) and its operating profit reached AED121m (US$32.9m). Earnings per share (EPS) grew to 0.413 dirhams ($0.112/0.092 euro) from 0.177 dirhams ($0.048/0.039 euro).

Total assets increased to some AED1.4bn (US$381m) at end-June 2005 from AED1.1bn (US$299m) at end-December 2004 with current assets rising to AED852m (US$232m) from AED575m (US$156.5m).

Published under Cement News