Cement News tagged under: Ras Al Khaimah Cement Company

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RAK Cement cancels cement plant acquisition plans

11 September 2019, Published under Cement News

UAE-based Ras Al Khaimah Cement has reportedly cancelled a deal to acquire a cement plant and quarry as financing could not be arranged, according to Reuters. While the name of the plant and quarry were not released in the statement, the company had previously planned to acquire the Newtech cement plant and Al Banna quarry in Fujairah. However, the deal, valued at AED450m (US$122.5m), was pushed back to the 2Q19 due to incomplete financing procedures.

Ras Al-Khaimah Cement records net profit increase

14 February 2018, Published under Cement News

Ras Al-Khaimah Cement has recorded a substantial increase in net profit for the full-year period of 2017, reaching AED21.3m (US$5.79m) from AED5.8m a year ago. However, the company also announced a fall in revenue to AED199.2m from AED229.5m of 2016, reports Reuters.

RAK Cement profits have fallen in 9M17

06 November 2017, Published under Cement News

RAK Cement has seen a 21.2 per cent fall in profits in 9M17. The UAE-based company's net profit totalled AED212,470 (US$57,830), compared to AED7.8m (US$2.12m) in 9M16. RAK Cement's sales amounted to AED137.28m in 9M17, a drop of 5.15 per cent YoY.

RAK Cement Co swings to second-quarter loss

08 August 2017, Published under Cement News

UAE-based Ras Al Khaimah Cement Company (RAK Cement) incurred a loss in the second quarter of 2017 as revenues declined by 26.6 per cent during the period. The company recorded a loss of AED3.5m (US$950,000) in 2Q17 versus a profit of AED2.46m (US$700,000) in the year-ago period, according to a filing to the Abu Dhabi Securities Exchange (ADX). Revenues were down to AED41.94m compared with AED57.13m a year earlier. Between January and June 2017, RAK Cement also incurred losses of AED 2....

RAK Cement Co 1Q profit down 70%

16 May 2017, Published under Cement News

Ras Al Khaimah Cement Co reported a decline in profits by 69.8 per cent YoY during the first quarter of 2017, according to a bourse filing. Profits reached AED1.38m (US$38,110) in 1Q17, compared to AED4.57m (US$1.25m) in 1Q16. Revenues declined by 22.7 per cent YoY to AED51.64m in 1Q17, while sales, general and administrative expenses grew 7.7 per cent YoY to reach AED5.49m. Financing costs increased 33.4 per cent to AED 196,250 in 1Q17, compared to AED147,170 in 1Q16.

RAK Cement buys back 68,560 shares, UAE

07 September 2015, Published under Cement News

Ras Al Khaimah Cement Co decided to repurchase 68,560 of its shares on Thursday at AED0.83/share. Accordingly, the total number of treasury shares rose to 10.29m with 45.6m shares remaining to be bought as part of the company’s buyback programme, according to a filing to the Abu Dhabi Securities Exchange Sunday. The cement firm recently reported a fall in its net profits for 1H15 to AED2.45m (US$0.667m), from AED 3.15m in the same period the year before.

RAK Cement reports first-half profit drop

07 August 2015, Published under Cement News

Ras Al Khaimah Cement reported a 22.3 per cent profit drop to AED2.45m ($667,000) in the first half of 2015, compared to AED3.15m (US$858,000) in the same period of 2014, according to a filing to the Abu Dhabi Securities Exchange.

RAK Cement swings to first-half net profit, UAE

22 July 2014, Published under Cement News

Preliminary first-half results for Ras Al Khaimah Cement (RAK Cement) show that the UAE-based producer achieved a net profit of AED3.2m (US$871,198) compared to a loss of AED1.6m in the equivalent period of last year. In a statement to the Abu Dhabi Securities Exchange revealed that revenues from local sales amounted to AED37.5m (US$10.2m) against AED38m in 2013, down 1.05 per cent YoY. Export revenue, on the other hand, climbed five per cent to AED84m compared to AED80m in the year-ago pe...

RAK Cement nine month net profit declines, UAE

23 October 2013, Published under Cement News

Ras Al Khaimah Cement reported an 86.6 per cent decline in net profit for the nine months to the end of September due to technical stoppage at the plant earlier this year. The UAE-based producer said net profit fell to AED650,000 (US$176,000) compared to US$1.3m (AED4.85m) last year. Sales rose by 3.7 per cent during the 9M13 period to AED182.6m, with domestic dispatches increasing 37 per cent YoY to AED138.7m while exports were down 41 per cent YoY to AED43.9m. The company said that p...

RAK Cement posts third consecutive quarterly loss, UAE

08 February 2012, Published under Cement News

Ras Al Khaimah Cement Company, based in the UAE, has issued its preliminary results for 4Q11, posting its third consecutive quarterly net loss of AED8.5m (US$2.3m). This brings its full year net loss to AED19.9m (US$5.4m). The results beat estimates by analysts at Global  Investment House (GIH) by 9.7 per cent. GIH believe the net loss was due to decreasing cement sales and lower realization prices.