Cement prices declined since the previous year to offset the strong production and sales volumes, the company stated to investors on the Abu Dhabi Securities Exchange today. It posted a loss of AED 5.2m for the second quarter, down on the AED 4.29m loss from the previous year, as sales fell 26% with a gross loss steady at AED 3.1m.
Over six months, the company’s revenue fell 25% from AED 129.2m to produce a net loss of AED 4.9m, more than triple the AED 1.26m loss at the same point last year. Total assets increased 0.24% in value to AED 823m against the end of June 2010 and shareholder equity fell from AED 767.4m to AED 760m.
