RAK Cement swings to first-half net profit, UAE

RAK Cement swings to first-half net profit, UAE
Published: 22 July 2014


Preliminary first-half results for Ras Al Khaimah Cement (RAK Cement) show that the UAE-based producer achieved a net profit of AED3.2m (US$871,198) compared to a loss of AED1.6m in the equivalent period of last year.

In a statement to the Abu Dhabi Securities Exchange revealed that revenues from local sales amounted to AED37.5m (US$10.2m) against AED38m in 2013, down 1.05 per cent YoY. Export revenue, on the other hand, climbed five per cent to AED84m compared to AED80m in the year-ago period.