National Cement first-quarter revenue falls, UAE
UAE-based National Cement Company said first-quarter revenue fell by 24% against the same period last year, though a rise in finance income allowed the company to post a net profit.
The cement maker saw income of $15.4m (AED 56.7m), against $20.3m (AED 74.6m) the previous year, though with the cost of sales rising on higher material expenses it posted a gross loss of $1.63m (AED 6m).
However, a 105% rise in finance income allowed the company to post a net profit of AED 15.1m, down a quarter against $5.66m (AED 20.8m) in the first quarter last year.
Published under Cement News
