RAK Cement posts third consecutive quarterly loss, UAE

RAK Cement posts third consecutive quarterly loss, UAE
Published: 08 February 2012


Ras Al Khaimah Cement Company, based in the UAE, has issued its preliminary results for 4Q11, posting its third consecutive quarterly net loss of AED8.5m (US$2.3m). This brings its full year net loss to AED19.9m (US$5.4m).

The results beat estimates by analysts at Global  Investment House (GIH) by 9.7 per cent. GIH believe the net loss was due to decreasing cement sales and lower realization prices.