Financial statements for Abu Dhabi-listed Gulf Cement show a significant surge in net profit for the first nine months of 2014, recording a leap by 62% to AED 73.88 million compared to AED 45.5 million during the same period in 2013.
Moreover, third quarter financials stood at AED 30.2 million against AED 19.65 million during the third quarter a year earlier, registering a 53.5% surge.
The nine-month profit increase was attributed to rising revenue by 17% to AED 538 million compared to AED 460.4 million during the first nine months of 2014. Moreover, sales rose to AED 458 million against AED 431.75 million.