Fujairah Cement Industries (FCI) sees fall in profit

Fujairah Cement Industries (FCI) saw its third-quarter profits fall by 95 per cent to AED0.3m (US$81,688) in the 3Q18, a sharp drop from AED6.2m reported in the year-ago period.

In the January-September period, FCI reported profits of AED12.2m, down 55 per cent from AED27.1m in the 9M17. Earlier this year, the company had posted 1H profits of AED11.9m, representing a 43 per cent YoY drop.