Cement companies post strong year

Cement companies post strong year
Published: 10 March 2005

An unprecedented level of net profit accrued to Ras Al Khaimah’s cement companies in 2004, company representatives said.  The Union Cement Factory reported net profit of Dh145.7 million for 2004, an increase of 311.9 per cent over 2003.  The Ras Al Khaimah Cement Factory reported net profit of Dh96 million, an increase of 320 per cent over 2003.  Gulf Cement has revealed net profit of Dh186.7 million, a jump of 275.4 per cent. Finally, the Ras Al Khaimah White Cement and Construction Materials Factory reported Dh40.2 million in profits for 2004. In 2003, its net profits were just Dh9.4 millions.   The large net profits are a sign of the growing demand for cement, company representatives said.