Umm Al-Qaiwain Cement Industries Co, a United Arab Emirates-based cement producer, said second- quarter profit slumped 96 per cent on investment losses and impairment provisions.
Net income declined to AED2.9m, or AED0.008 dirham a share, from AED81.4m, or AED0.224, in the year- earlier period, the company said in a statement to the Abu Dhabi bourse today. Sales fell 5 percent to AED29.6m.
