The Ras Al Khaimah Company for White Cement and Construction Materials posted a 330 per cent jump in its net profits over 2003, company representatives said in a report carried by Gulf News. The company recorded a net profit of Dh40.7 million for the year ending December 31, 2004, said Ahmad Bin Humaid Al Qasimi, the chairman of the company’s board. The company’s net profit for 2003 was Dh9.4 million, he said. The company’s annual general assembly, held yesterday, decided to distribute six per cent of the company’s capital in cash to shareholders.
The company’s cement production last year came to 313,430t, representing a 30 per cent increase over 2003’s 273,333t. The company’s cement production for 2005 is expected to reach 390,000t, he said.