Arkan sees 55% net profit increase in 1H19

Arkan sees 55% net profit increase in 1H19
06 August 2019


UAE-based Arkan Building Materials has announced a 55 per cent YoY increase in net profit to AED33.8m (US$9.2m) for the 1H19. The positive result has been attributed to cost management schemes, the award of an insurance claim and proceeds from the Emirates Cement Factory sale.

However, group revenue declined 8.9 per cent to AED458.9m, compared with AED503.8m in the 1H18. The fall was a result of market price pressure as export markets saw a slowdown, according to the company.

Published under Cement News