Ras Al Khaimah White Cement and Construction Materials announced its financials for the first nine months and for the third quarter of 2014 in its statement to the Abu Dhabi Securities Exchange (ADX).

RAK White Cement reported a net profit of AED 36.2 million ($9.86 million) during the first nine months of the year, compared to AED 43.3 million during the similar period in 2013, registering a profit decline by 19.4%.

On the other hand, net profit for the third quarter of the year leaped by 95.6% to AED 10 million compared to AED 5.12 million during Q3-13.

The nine-month profit decline was attributed to retreating revenues amounting to AED 308 million against AED 328.2 million during the first nine months of 2013. Meanwhile, Q3 profit growth was attributed to a significant increase in revenue from investments amounting to AED 7.3 million against AED 3.85 million during Q3-13.

Financials for the first half of 2014 showed a net profit of AED 26.2 million against AED 38.2 million during the first six months of 2013, registering a decline by 31.4%.

Ras Al Khaimah White Cement and Construction Materials’s capital amounts to AED 49 billion distributed on 490.35 million shares at par value AED 100 per share.