Abu Dhabi – Mubasher: Financial statement for Abu Dhabi-listed Ras Al Khaimah Cement (RAK Cement) have shown a significant surge in net profit for the fiscal year ending December 31, 2014, by 80% to AED 14.17 million ($3.86 million) against AED 7.8 million ($2.12 million) during FY13.

Financials for the fourth quarter of 2014 showed a 16.6% rise to AED 8.4 million against AED 7.2 million in Q4-13.

The cement firm’s revenues for FY 14 rose by 5.5% to AED 232 million, up from AED 220 million a year earlier. Moreover, operational profits surged by 72% to AED 13 million against AED 7.61 million in 2013.

Earnings per share (EPS) in the year rose to AED 0.25 against AED 0.15 in FY13.

RAK Cement had announced a net profit of AED 5.82 million during the first nine months of 2014 against AED 653.02 THD during the corresponding period in 2013.