Fujairah Cements first quarter net profit falls by fourth

Dubai:

Fujairah Cements said on Sunday its net profit fell by a fourth in the three months to March.

Net profit fell to Dh12 million in the first quarter from Dh16 million in the same period last year. Revenues also fell to Dh139 million in March quarter from Dh150 million in the same quarter in 2016.

The company has dual listing in Abu Dhabi Securities Exchange and Boursa Kuwait.

The company has a production capacity of 4 million tonnes of clinker per annum and 2.4 million tonnes of cement per annum and an annual turnover of over Dh600 million.