RAK Cement nine-month profit tumbles 97.4%

Dubai: Ras Al Khaimah Cement Company reported a 97.4 per cent drop in nine-month net profit to Dh0.2 million compared to Dh7.8 million a year ago. During the nine months of this year, the total revenues stood at Dh150.1 million compared to Dh170.3 million, a decrease of 11.9 per cent. Revenues from local sales stood at Dh118.9 million compared to Dh79.8 million while export sales stood at Dh31.3 million compared to Dh90.6 million a year ago. Total assets increased by 5.3 per cent to Dh666.4 million compared to Dh633.1 million a year ago. Shareholders’ equity decreased by 2.4 per cent from Dh589.7 million to Dh575.5 million in the nine months.