RAK Ceramics first quarter net profit, revenues almost flat

Dubai: RAK Ceramics said its net profit and revenues for the first quarter to March remained almost flat compared to the same period the year before.

The company’s net profit rose 1.5 per cent to Dh65.4 million, while core revenues rose a tad 1 per cent to Dh628.8 million. Total revenues fell 2.8 per cent. Total gross margin increased by 20 basis points compared to the same period last year, the company said in a statement on Thursday.

“Our first quarter performance was stable and in line with expectations despite an increase in our energy costs, which we were able to offset through improvements in our operational efficiencies,” stated Abdallah Massaad, Group CEO, RAK Ceramics.