UAE: Union Cement Co 1H profit declines 8%

UAE: Union Cement Co 1H profit declines 8%
24 July 2015

Union Cement Co (UCC) reported an eight per cent decline in its profits for the first six months of 2015 to AED54.7m (US$14.89m), compared to AED59.4m (US$16.16m) in H1-14, the company said in its filing to the Abu Dhabi Securities Exchange (ADX) on Thursday.

UCC achieved revenues of AED314.7m during the six-month period in 2015, a decline of 3.7 per cent from AED326.7m in the same period last year, attributed to lower sales volumes.

Cost of sales fell 3.62 per cent to AED234.88m, compared to AED243.70m in 1H14. UCC’s operating profits grew 0.52 per cent to AED47.17m, from AED46.93m in the same period of last year.

UCC's plant in Ras Al Khaimah has a clinker capacity of 4.5Mta and a cement capacity of 4.8Mta. The works includes four clinker lines with the fourth being the largest in the region, designed at a 10,000tpd capacity, but output can reach as much as 12,000tpd.

Published under Cement News

Tagged Under: Results UAE Union Cement Company