Fujairah Cement Industries (FCI) has announced that turning to profit during the first nine months of 2014.

In its statement to the Abu Dhabi Securities Exchange (ADX) and Kuwait Stock Exchange (KSE), FCI reported a net profit of AED 17 million ($4.6 million) during the first nine months of the year, compared to a net loss of AED 9.46 million ($2.6 million) during the same period in 2013.

FCI also reported a net profit of AED 5.53 million during the third quarter of 2014, against a net loss of AED six million during the corresponding period last year.

Profit growth was attributed to growing sales and declining costs as FCI sales rose to AED 447.4 million during the nine-month period, compared to AED 444 million during same period a year earlier, whereas costs fell to AED 408 million against AED 429 million during first nine months of 2013.

It is worth noting that FCI reported a net profit of AED 11.5 million during the first half of 2014 compared to a net loss of AED 3.56 million during the first half of 2013.

FCI’s capital amounts to AED 35.586 million divided on 35.586 million shares at par value AED 1 per share.